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What annual savings can Aqua Systems expect

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Reference no: EM132961993

Question - Aqua Systems Inc. expects to have $28,463,294 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 4 days of float releasing funds, which invested will earn 7.41% per year. What annual savings can Aqua Systems expect if the System is implemented? Use 365 day year.

Reference no: EM132961993

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