Finding the anticipated daily cost of the lockbox system, Business Management

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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 on Treasury bills is 0.021% (not 2.1%). The bank charge per check is $0.22. What is the anticipated daily cost of the lockbox system?

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Business Management: Finding the anticipated daily cost of the lockbox system

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Business Management: Finding the anticipated daily cost of the lockbox system

Reference No:- TGS0108972

Have a Question? (oR Write a Review)

Recent Questions Asked Business Management

Q : Ensuring the continued operation of your business

Q : Economic order quantity formula

Q : Value of leader selection-leader development

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Q : Finding the anticipated daily cost of the lockbox system

Q : Amount of the expected daily savings of lockbox system

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Q : Centralizing union negotiations

Q : Rates on bonds of comparable length

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Request for Solution File

Ask an Expert for Answer!!

Business Management: Finding the anticipated daily cost of the lockbox system

Reference No:- TGS0108972

Recent Questions Asked Business Management

Q : Ensuring the continued operation of your business

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

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