Amount of the expected daily savings of lockbox system, Business Management

+44 141 628 6080
[email protected]

Amount of the expected daily savings of lockbox system

Roger's Distributors receives an average of 216 checks a day. The average amount per check is $629. The firm is considering a lockbox system which it anticipates will reduce the average collection time by 1.5 days. The daily interest rate on Treasury bills is 0.011% (not 1.1%). What is the amount of the expected daily savings of the lockbox system?

Request for Solution File

Ask an Expert for Answer!!

Business Management: Amount of the expected daily savings of lockbox system

Reference No:- TGS0108973

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Business Management

Q : Economic order quantity formula

Annual demand for a product is 40,000 units. The product is used at a constant rate over the 365 days the company is open every year. The annual holding cost for the product is estimated to be $2.50 per unit and the cost of placing each order is $

Q : Value of leader selection-leader development

Do these data give any credence to the value of leader selection and leader development? Why or why not?

Q : Holistic marketing and integrated marketing

What are the similarities and differences between holistic marketing and integrated marketing communications?

Q : Finding the anticipated daily cost of the lockbox system

You are considering implementing a lockbox system for your firm. The system is expected to reduce the average collection time by 1.3 days. On an average day, your firm receives 136 checks with an average value of $219 each. The daily interest rate

Q : Amount of the expected daily savings of lockbox system

Q : Process the payments from the customers

It takes your firm 4.5 days to prepare and mail out all the monthly statements to your customers. On average, the mail time between your firm and your customers is 2.6 days. Customer checks take an average of 1.8 days to clear the bank. You have d

Q : Centralizing union negotiations

The corporate office of Cooper Industries adds value to its acquired businesses by performing such activities as auditing their manufacturing operations, improving their accounting activities, and centralizing union negotiations. This is an exampl

Q : Rates on bonds of comparable length

Suppose that, in July, 1995, you bought a 20-year zero-coupon bond with a maturity value of $150,000 and a yield of 16% annually. In July, 2005, your bond had 10 years remaining until maturity. Rates on bonds of comparable length were around 5.2%.

Q : Firm proceed with the lockbox plan

A firm is considering paying a lockbox operator an annual fee of $7500 to reduce its collection time by 2 days. The firm can earn 6% on any funds freed up by float reduction. If the firm's average daily receipts are $80,000, should the firm procee

1959004

Questions
Asked

3,689

Active Tutors

1451124

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Business Management: Amount of the expected daily savings of lockbox system

Reference No:- TGS0108973

Have a Question? (oR Write a Review)

Recent Questions Asked Business Management

Q : Economic order quantity formula

Q : Value of leader selection-leader development

Q : Holistic marketing and integrated marketing

Q : Finding the anticipated daily cost of the lockbox system

Q : Amount of the expected daily savings of lockbox system

Q : Process the payments from the customers

Q : Centralizing union negotiations

Q : Rates on bonds of comparable length

Q : Firm proceed with the lockbox plan

Investigate the cause of the recent werewolf attacks

Describe marxist theory and psychology of addiction

Explain framers decisions in creating the constitution

Federal bureaucracy has to put up with a lot of red tape

What power of recognition when it comes to office president

What right ordinance power give to the president

Analyze leadership of organization during particular event

Request for Solution File

Ask an Expert for Answer!!

Business Management: Amount of the expected daily savings of lockbox system

Reference No:- TGS0108973

Recent Questions Asked Business Management

Q : Economic order quantity formula

Q : Value of leader selection-leader development

Q : Holistic marketing and integrated marketing

Q : Finding the anticipated daily cost of the lockbox system

Q : Amount of the expected daily savings of lockbox system

Q : Process the payments from the customers

Q : Centralizing union negotiations

Q : Rates on bonds of comparable length

Q : Firm proceed with the lockbox plan

Asked Questions