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Your firm has an average receipt size of $108. A bank has approached you concerning a lockbox… 1 answer below » Your firm has an average receipt size of $108. A bank has approached you concerning a lockbox service that will decrease your total collection time by two days. You typically recevis 8,500 checks per day. The daily intrest rate is 0.016 percent. If the bank charges a fee of $225 per day, should the lockbox project be accepted? what would the net annual savings be if the service were adopted? Sep 16 2015 02:49 PM
