Alpine Electronics has average daily sales of $75,000. A proposed electronic payment system would reduce their collection time by 2.1 days. If Alpine can earn 4.8% interest annually, what would be the annual savings from implementing this system?
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- Your firm has an average receipt size of $65. A bank has approached you concerning a lockbox service that will decrease your total collection time by 2 days. You typically receive 8,700 checks per day. The daily interest rate is 0.016 percent. If the bank charges a fee of $190 per day, what is the NPV of the lockbox project? NPV What would the net annual savings be if the service were adopted? Net annual savingsA credit card holder has $12,000 on a credit card that charges a nominal annual rate of interest compounded 12 times a year. If the card holder wants to pay off the credit card in 6 years, how much will the card holder need to pay? Use this information to complete the following: 1) If the card holder is a low-risk customer, and the credit card company will charge 12.3% nominal annual rate of interest compounded 12 times a year. Compute: i. Monthly payment: | ii. Total amount of money the card holder will pay: iii. Total interest amount the credit card company will earn:If you want to have $875 in 36 months, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded quarterly. Round to the nearest $1. Please give the HP 10bII+ calculator solution steps only, I'm having trouble figuring it out, thank you in advance
- If you put 1,000 in a savings account that yields an 7℅ annual rate of interest that is compounded weekly, how much would that be worth in 25 weeks? How do I solve this problem on a financial calculator?A payday lender might lend you $350 now, and you'll be asked to pay them back when your paycheck comes. Of course, you'll have to pay interest. The median fee charged by these types of lenders is $15 per every 100 borrowed. How much would you have to pay back in ten days?It’s time to get a new laptop. The laptop is $1,800. You could put money aside for it each month for one year. If you put the money in an account that earns 4.5%, how much will you have to save each month?Your other option is to finance it over two years paying 7.1%. How much would your monthly payment be?What are the total acquisition costs of each option?
- ACE Design has daily sales of $52,000. The financial management team has determined that a lockbox would reduce the collection time by 2.9 days. Assuming the company can earn 6.8 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.) Savings from the lockbox $__________ per yearYour firm has an average receipt size of $60. A bank has approached you concerning a lockbox service that will decrease your total collection time by 2 days. You typically receive 8,500 checks per day. The daily interest rate is 0.02 percent. If the bank charges a fee of $190 per day, what is the NPV of the lockbox project? What would the net annual savings be if the service were adopted?A Chevrolet Sonic Hatchback costs $14,375.00. With a 7% down payment, you can have an amortized loan for 9 years at a rate of 4%. What will the monthly payment be? How much will the car cost, in total? How much money will be paid in interest?
- A Chevrolet Sonic Hatchback costs $14,640.00. With a 9% down payment, you can have an amortized loan for 8 years at a rate of 4.5%. a) What will the monthly payment be? b)How much will the car cost, in total c)How much money will be paid in interest?You run an online business and you are considering an upgrade to your website. The upgrade will cost you a one-time fee of $8,000 today. You expect that the upgrade will generate an additional profit flow of $5,000 per year. (This income stream is continuous and constant.) Assume that the interest rate is 8% compounded continuously. How long will it take for the upgrade to "pay for itself"? In other words, over what period of time will the present value of the additional profit generated by the upgrade be equal to the cost of the upgrade itself?A local bank is advertising that it pays depositors 6% compounded monthly, yielding an effective annual rate of 6.168%. If Ghc2,000 is placed in savings now and no withdrawals are made, how much interest will be earned in one year?
