Vishal Corporation disburses cheques every week that average $105,000 and take four days to clear. How much interest can the company earn annually if it delays transfer of the funds from an interest bearing account that pays.025% daily for these four days?
A) $1,860
B) $2,760
C) $3,660
D) $4,560
E) $5,460
Correct Answer:
Verified
Q129: On an average day, Nelson Enterprises receives
Q130: The Lawrence Stone-Age Pottery Co. receives 50
Q131: Blue Ridge Industrial Supply receives an average
Q132: You are considering implementing a lockbox system
Q133: According to your chequebook, you have a
Q135: Charlie Co. receives an average of 175
Q136: Your firm needs $135,000 a week to
Q137: Dick's Automotive Parts receives an average of
Q138: You are considering implementing a lockbox system
Q139: When Jane balanced her checkbook, she had
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents