【每日一练】ACCA F9（ June 2015）_ACCA

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet.
Each question is worth 2 marks.

A company needs $150,000 each year for regular payments. Converting the company’s short-term investments into cash to meet these regular payments incurs a fixed cost of $400 per transaction. These short-term investments pay interest of 5% per year, while the company earns interest of only 1% per year on cash deposits.
According to the Baumol Model, what is the optimum amount of short-term investments to convert into cash in each transaction?
A $38,730
B $48,990
C $54,772
D $63,246

Answer：

C
Optimum cash conversion = (2 x 400 x 150,000/(0·05 – 0·01))0·5 = $54,772

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