Answered: 1. Community Hospital has annual net… | bartleby

Microeconomics A Contemporary Intro

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance

Section: Chapter Questions

Problem 13PAE

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1. Community Hospital has annual net patient revenues of $150 million. At the present time,
payments received by the hospital are not deposited for six days on average. The hospital is
exploring a lockbox arrangement that promises to cut the six days to one day. If these funds
released by the lockbox arrangement can be invested at 8 percent, what will the annual
savings be? Assume the bank fee will be $2,000 permonth.

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