Question: You are considering a lockbox system that will decrease your collection time by two days. Your avera size is $119 and you receive 5,650 checks

You are considering a lockbox system that will decrease your collection time by two days. Your avera size is $119 and you receive 5,650 checks per day. If the daily interest rate is .015 percent and the loc service charges a fee of $160 per day, should the lockbox project be accepted? You are considering a lockbox system that will decrease your collection time by two days. Your avera size is $119 and you receive 5,650 checks per day. If the daily interest rate is .015 percent and the loc service charges a fee of $160 per day, should the lockbox project be accepted

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