FIN 515 – The Fast Reader Company supplies bulletin board services to numerous

FIN 515 – The Fast Reader Company supplies bulletin board services to numerous

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 theseservices, collection float will be reduced by22 days. Average daily collections are $1,150, and the owner can earn 9% annually (expressed as an APR with monthly compounding) on her investments. If the billing firm charges $250 per month, should the owner employ the billing firm?


Price: £ 59

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