If sbr receives an average of 2500 in payments per day and, Finance Basics

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If sbr receives an average of 2500 in payments per day and

Currently, it takes five days from the time customers mail payments until Shark Bait Rafts (SBR) deposits them. SBR would like to set up a lockbox collection system that would reduce this collection float by three days. If SBR receives an average of $2,500 in payments per day and its opportunity cost is 18 percent, how much should SBR be willing to pay each month for the lockbox system?

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Finance Basics: If sbr receives an average of 2500 in payments per day and

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