Your firm receives an average of 7247 remittances per month with an average face value of $10,000.  A lockbox system would have only 2 days of float.  The system charges a variable cost of $.80 per item and monthly fixed cost of $625.  The opportunity investment rate is 5 percent.  

What is the monthly total cost of the lockbox system?

Answer rating: 100% (QA)

To calculate the monthly total cost of the lockbox system we need to consider the variable cost fixe... View the full answer