The average term of either loan is expected to be 35, Management Information Sys

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The average term of either loan is expected to be 35

Michael's Computers is evaluating proposals from two different factors who will provide receivables financing.

Big Fee Factoring will finance the receivables at an APR of 8 percent, discounted, and charges a fee of 4 percent.

HighRate Factoring offers an APR of 14% (non-discounted) with fees of 2 percent.

The average term of either loan is expected to be 35 days. With an average receivables balance of $250,000, which proposal should Michael's accept?

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Management Information Sys: The average term of either loan is expected to be 35

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