(Solution) - The following table shows Uma s estimated annual benefits of holding -(2025 Original AI-Free Solution)
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The following table shows Uma's estimated annual benefits of holding different amounts of money:
Average money holdings ($) Total benefit ($)
500???????????. 35
600???????????. 47
700???????????. 57
800???????????. 65
900???????????. 71
1,000???????????. 75
1,100???????????. 77
1,200???????????. 77
How much money will Uma hold on average if the nominal interest rate is 9 percent? 5 percent? 3 percent? Assume that she wants her money holding to be a multiple of $100.