What is the amount of the expected daily savings, Business Management

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What is the amount of the expected daily savings

Roger's Distributors receives an average of 216 checks a day. The average amount per check is $629. The firm is considering a lockbox system which it anticipates will reduce the average collection time by 1.5 days. The daily interest rate on Treasury bills is 0.011% (not 1.1%). What is the amount of the expected daily savings of the lockbox system?

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Business Management: What is the amount of the expected daily savings

Reference No:- TGS0108937

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Recent Questions Asked Business Management

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Request for Solution File

Ask an Expert for Answer!!

Business Management: What is the amount of the expected daily savings

Reference No:- TGS0108937

Recent Questions Asked Business Management

Q : Find setting for mean that no cans will be unacceptable

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Q : Design a sequential circuit that can detect

Q : Accounting problem or discrepancy

Q : What is the amount of the expected daily savings

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Q : What is the anticipated daily cost of the lockbox system

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