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 $57,000 and take 7 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .02 percent per day for these seven days? Ignore the effects of compounding interest.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M998633

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