The Mesa Bank is offering your company the use of their lockbox services.They estimate that you
can reduce your average mail time by 2 days and they can save you a combined clearing and
processing time of 1.5 days by putting the cheques into the clearing system sooner.The ﬁrm
receives 320 cheques a day on average written for €2,500.The current T-Bill rate is 4% or .0107%
per day.What is the savings ﬂoat and what can you earn if the ﬁrm takes Mesa's lockbox service?

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The Answer of The Mesa Bank is offering your company the use of their lockbox services.They estimate that you
can reduce your average mail time by 2 days and they can save you a combined clearing and
processing time of 1.5 days by putting the cheques into the clearing system sooner.The ﬁrm
receives 320 cheques a day on average written for €2,500.The current T-Bill rate is 4% or .0107%
per day.What is the savings ﬂoat and what can you earn if the ﬁrm takes Mesa's lockbox service?

The Mesa Bank Is Offering Your Company the Use of Their