No more pencils inc disburses checks every two weeks that, Ask an Expert

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No More Pencils, Inc., disburses checks every two weeks that average $94,000 and take five days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .011 percent per day for these five days? Ignore the effects of compounding interest.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92089684

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