Case Problem $2$ Yeager National Bank

Using aggressive mail promotion with low introductory interest rates, Yeager National Bank $($YNB$)$ built a large base of credit card customers throughout the continental United States. Currently, all customers send their regular payments to the bank's corporate office located in Charlotte, North Carolina. Daily collections from customers making their regular payments are substantial, with an average of approximately $$600,000.$ YNB estimates that it makes about $15\%$ on its funds and would like to ensure that customer payments are credited to the bank's account as soon as possible. For instance, if it takes five days for a customer's payment to be sent through the mail, processed, and credited to the bank's account, YNB has potentially lost five days' worth of interest income. Although the time needed for this collection process cannot be completely eliminated, reducing it can be beneficial given the large amounts of money involved.