Alexis Jewelry expects to have $35 million in credit sales during the coming year.In spite of a national distributing system,all remittances are sent to the home office.A proposed system can eliminate 3 days of float,releasing funds which,when invested,will earn 6.5 percent.What annual savings can Alexis Jewelry expect if the system is implemented?
Use a 365-day year.

Question

Alexis Jewelry expects to have $35 million in credit sales during the coming year.In spite of a national distributing system,all remittances are sent to the home office.A proposed system can eliminate 3 days of float,releasing funds which,when invested,will earn 6.5 percent.What annual savings can Alexis Jewelry expect if the system is implemented?
 Use a 365-day year.

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The Answer of Alexis Jewelry expects to have $35 million in credit sales during the coming year.In spite of a national distributing system,all remittances are sent to the home office.A proposed system can eliminate 3 days of float,releasing funds which,when invested,will earn 6.5 percent.What annual savings can Alexis Jewelry expect if the system is implemented?
 Use a 365-day year.

Alexis Jewelry Expects to Have $35 Million in Credit Sales