Shark Bait Rafts (SBR) would like to set up a lock box collection system that would reduce its collection float by five days. SBR receives an average of $1,920 in payments per day. If its opportunity cost is 18 percent, how much should SBR be willing to pay each month for the lockbox system? Assume annual compounding. Round your answer to the nearest cent. $
Shark Bait Rafts (SBR) would like to set up a lock box collection system that would reduce its collection float by five days. SBR receives an average of $1,920 in payments per day. If its opportunity cost is 18 percent, how much should SBR be willing to pay each month for the lockbox system? Assume annual compounding. Round your answer to the nearest cent. $
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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Shark Bait Rafts (SBR) would like to set up a lock box collection system that would reduce its collection float by five days. SBR receives an average of $1,920 in payments per day. If its
$
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