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Your firm has an average receipt size of $108. A bank has approached you concerning a lockbox service that will decrease your collection time by two days. You typically receive 8,500 cheques per day. Daily interest rate is .016%. If the bank charges a fee of $225 per day, should the lockbox project be accepted. What would net annual savings be if the service was adopted?

Microeconomics, Economics

  • Category:- Microeconomics
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