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Expected daily savings of the new system

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Arnie's Active Adventure Co. receives an average of 10 cheques per day. The average amount per cheque is $2,400. Arnie is considering a new processing system that is expected to reduce the average collection time by 3 days. The daily interest rate on Treasury bills is .01 percent. What is the expected daily savings of the new system?

Reference no: EM132711588

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