What are the expected annual savings from a lock-box system that collects 150 cheques per day averaging $500 each, and reduces mailing and processing times by 2.5 and 1.5 days respectively, if the annual interest rate is 7 percent?
A) $300,000
B) $21,000
C) $13,125
D) $5,250
Ans: B) $21,000
Business
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