Katniss Everdeen is the credit and loans manager for Panem Corp and has given you...
50.1K
Verified Solution
Link Copied!
Question
Finance
Katniss Everdeen is the credit and loans manager for Panem Corp and has given you the following information to help her decide if Panem should use a lockbox system or not. Current payments forecasted: 600 payments per day Average Payment size: $1,200 The banks charge for the lockbox: $0.19 per cheque Currently, the Panem receives these cheques directly and then deposits them into the bank themselves. Customers are happy with this setup and usually pay within the discount period. Based on this, Katniss believes that there will be a 1% decrease in payments sent to the lockbox, with customers taking the option to send their payments directly to Panem Corp instead. Katniss doesnt believe that this will be a problem. Required: Should Panem Corp use a lockbox?
Show all calculations to support your answer.
the customer discount isnt given
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
