Average customer payment, A Corporation is considering on

Average customer payment

Reference no: EM1361492

A company is panning on using a lock box system to speed up collections from its customers on the East Coast...A bank in Philadelphia will provide the service for an annual fee of $25,000 plus 10 cents a transaction...the estimated reduction in collection is one day...if the average customer payment in this region is $5500, how many customers each day, on average, are needed to make the system profitable?...t-bills are currently yielding at 5% per year....

Reference no: EM1361492

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