Two basic trade-offs interact while our brain decides how to move our body. First, with the cost-benefit trade-off, the brain trades between the importance of moving faster toward a target that is more rewarding and the increased muscular cost resulting from a faster movement. Second, with the speed-accuracy trade-off, the brain trades between how accurate the movement needs to be and the time it takes to achieve such accuracy. So far, these two trade-offs have been well studied in isolation, despite their obvious interdependence. To overcome this limitation, we propose a new model that is able to simultaneously account for both trade-offs. The model assumes that the central nervous system maximizes the expected utility resulting from the potential reward and the cost over the repetition of many movements, taking into account the probability to miss the target. The resulting model is able to account for both the speed-accuracy and the cost-benefit trade-offs. To validate the proposed hypothesis, we confront the properties of the computational model to data from an experimental study where subjects have to reach for targets by performing arm movements in a horizontal plane. The results qualitatively show that the proposed model successfully accounts for both cost-benefit and speed-accuracy trade-offs.