Aqua system inc. expects to have 29,495,200 in credit sales during the coming year. Currently...
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Aqua system inc. expects to have 29,495,200 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 4 days of float, releasing funds which, when invested, will earn $14.31 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year. Please show a breakdown of the formula and show how to calculate the problem step by step.
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