3. 8. Value of delay [LO 19.2] Every two weeks, No More Pencils Ltd disburses cheques that...

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3. 8.

Value of delay [LO 19.2] Every two weeks, No More Pencils Ltd disburses cheques that average $107 000 and take seven days to clear.

How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.009 per cent per day for these seven days? Ignore the effects of compounding interest.

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Fundamentals Of Corporate Finance

ISBN: 9781743768051

8th Edition

Authors: Stephen A. Ross, Rowan Trayler, Charles Koh, Gerhard Hambusch, Kristoffer Glover, Randolph W. Westerfield, Bradford D. Jordan

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Question Posted: Oct 04, 2024 02:00 AM

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3. 8. Value of delay [LO 19.2] Every two weeks, No More Pencils Ltd disburses cheques that...

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Fundamentals Of Corporate Finance

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