Which proposal should michaels accept

Assignment Help Management Information Sys

Reference no: EM131176008

Michael's Computers is evaluating proposals from two different factors who will provide receivables financing.

Big Fee Factoring will finance the receivables at an APR of 8 percent, discounted, and charges a fee of 4 percent.

HighRate Factoring offers an APR of 14% (non-discounted) with fees of 2 percent.

The average term of either loan is expected to be 35 days. With an average receivables balance of $250,000, which proposal should Michael's accept?

Reference no: EM131176008

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