De la Mare Company has $140,000 in accounts receivable that will be collected within 75 days. Since De la Mare needs cash immediately, it has decided to factor in them and has received $130,000. Donne Factoring Company, which took the receivables, could collect only $135,000 after 90 days. Find the rate of return on this investment for Donne.

De la Mare Company has $140,000 in accounts receivable that will be collected within 75 days. Since De la Mare needs cash immediately, it has decided to factor in them and has received $130,000. Donne Factoring Company, which took the receivables, could collect only $135,000 after 90 days. Find the rate of return on this investment for Donne.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.4: Series And Their Notations

Problem 57SE: Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what...

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