Every two weeks, No More Pencils, Inc., disburses checks that average $124,000 and take seven days to
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Every two weeks, No More Pencils, Inc., disburses checks that average $124,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .009 percent per day for these seven days? Ignore the effects of compounding interest.
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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