arm Insurance has collection centers across the country to speed up collections. The company also makes its disbursements emote disbursement centers, so the firm's checks will take longer to clear the bank. Collection time has been reduced by two e-half days and disbursement time increased by one and one-half days because of these policies. Excess funds are being ed in short-term instruments yielding 5 percent per annum. ty Farm has $4.30 million per day in collections and $3.50 million per day in disbursements, how many dollars has the cash jement system freed up? (Enter your answer In dollars not in millions (e.g., $1,234,567).) 1 up funds S much can City Farm earn in dollars per year on short-term investments made possible by the freed-up cash? (Enter your rin dollars not in millions (e.g., $1,234,567).) st on freed-up cash $ 275,000
arm Insurance has collection centers across the country to speed up collections. The company also makes its disbursements emote disbursement centers, so the firm's checks will take longer to clear the bank. Collection time has been reduced by two e-half days and disbursement time increased by one and one-half days because of these policies. Excess funds are being ed in short-term instruments yielding 5 percent per annum. ty Farm has $4.30 million per day in collections and $3.50 million per day in disbursements, how many dollars has the cash jement system freed up? (Enter your answer In dollars not in millions (e.g., $1,234,567).) 1 up funds S much can City Farm earn in dollars per year on short-term investments made possible by the freed-up cash? (Enter your rin dollars not in millions (e.g., $1,234,567).) st on freed-up cash $ 275,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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