You are considering opening a lockbox.Calculate the net benefit of the lockbox per day given the information provided.
$$\begin{array}{l}
\begin{array} { | l | r | }
\hline\text { Data: }\
\hline \text { Average number of daily payments to lockbox } & 450 \
\hline \text { Average value of payment } & \mathbf { \$ 3 , 0 0 0 } \
\hline \text { Rate of interest per day } & 0.015 \% \
\hline \text { Savings in mailing time (days) } & 1.1 \
\hline \text { Savings in processing time (days) } & 0.6 \
\hline \text { Bark charge per cheque } & \mathbf { \$ 0 . 3 0 } \
\hline
\end{array}
\end{array}$$

Question

You are considering opening a lockbox.Calculate the net benefit of the lockbox per day given the information provided.
 $$\begin{array}{l}
\begin{array} { | l | r | } 
\hline\text { Data: }\
\hline \text { Average number of daily payments to lockbox } & 450 \
\hline \text { Average value of payment } & \mathbf { \$ 3 , 0 0 0 } \
\hline \text { Rate of interest per day } & 0.015 \% \
\hline \text { Savings in mailing time (days) } & 1.1 \
\hline \text { Savings in processing time (days) } & 0.6 \
\hline \text { Bark charge per cheque } & \mathbf { \$ 0 . 3 0 } \
\hline
\end{array}
\end{array}$$

Quizplus · Accepted Answer

The Answer of You are considering opening a lockbox.Calculate the net benefit of the lockbox per day given the information provided.
 $$\begin{array}{l}
\begin{array} { | l | r | } 
\hline\text { Data: }\
\hline \text { Average number of daily payments to lockbox } & 450 \
\hline \text { Average value of payment } & \mathbf { \$ 3 , 0 0 0 } \
\hline \text { Rate of interest per day } & 0.015 \% \
\hline \text { Savings in mailing time (days) } & 1.1 \
\hline \text { Savings in processing time (days) } & 0.6 \
\hline \text { Bark charge per cheque } & \mathbf { \$ 0 . 3 0 } \
\hline
\end{array}
\end{array}$$

You Are Considering Opening a Lockbox