Mercy hospital is considering shifting its payroll period, Financial Management

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Mercy hospital is considering shifting its payroll period

Mercy Hospital is considering shifting its payroll period from twice a month to monthly. Total payroll for the year is $80 million. Billings can earn 6% on its invested money. How much would the Mercy Hospital save from such a change? (Hint: Use the time value of Money concept to answer this question).

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Financial Management: Mercy hospital is considering shifting its payroll period

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Financial Management: Mercy hospital is considering shifting its payroll period

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