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The fast reader company supplies bulletin board services to

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The Fast Reader Company supplies bulletin board services to numerous hotel chains nationwide.The owner of the firm is investigating the benefit of employing a billing firm to do her billing andcollections. Because the billing firm specializes in these services, collection float will be reducedby 20 days. Average daily collections are $1200, and the owner can earn 8% annually (expressedas an APR with monthly compounding) on her investments. Up to what amount, at the end of each month, should Fast Reader be willing to pay for this service?

Reference no: EM13484836

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