Pain Free Dentistry, Inc., disburses checks every two weeks that average $80,000 and take seven days to
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Pain Free Dentistry, Inc., disburses checks every two weeks that average $80,000 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 .02 percent per day for these seven days? Ignore the effects of compounding interest.
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780072553079
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
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