The fast reader company supplies bulletin board services to


The Fast Reader Company supplies bulletin board services to numerous hotel chains nationwide. The owner of the firm is investigating the benefit of employing a billing firm to do her billing and collections. Because the billing firm specializes in these services, collection float will be reduced by 23 days. Average daily collections are $1,200, and the owner can earn 9% annually(expressed as an APR with monthly compounding) on her investments. If the billing firm charges $275 permonth, should the owner employ the billingfirm?

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Finance Basics: The fast reader company supplies bulletin board services to
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