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Make the system profitable for sussex

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Sussex Inc., a large fertilizer distributor based in Nova Scotia, is planning to use a lockbox system to speed up collections from its customers located on the West Coast. A Vancouver-area bank will provide this service for an annual fee of $15,000 plus 5 cents per transaction. The estimated reduction in collection and processing time is one day. Treasury bills are currently yielding 5% per year and assume 365 days per year.

If the average customer payment in this region is $6,200, how many customers each day, on average, are needed to make the system profitable for Sussex? (Do not round your intermediate calculations. Round the final answer to 2 decimal places.)

Number of customers per day

 

 

Reference no: EM132951698

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