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
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