Fee on the total balance of current receivables

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Reference no: EM13241571

Wonder Dog Leash Company is seeking to raise cash and is innegotiation with Big Bucks fi nance company (BB) to pledge their
receivables.
BB is willing to loan funds against 75 percent of current (that is, notoverdue) receivables at a 15 percent annual percentage rate (see theaging of receivables in problem 10). To pay for its evaluation ofWonder's receivables, BB charges a 2.5 percent fee on the totalbalance of current receivables.

Reference no: EM13241571

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