Question
When Waverly Wear, Inc., merged with Southerly, Inc.. Waverly's employees were switched from a weekly to a biweekly pay period. Waverly's weekly payroll amounted to
When Waverly Wear, Inc., merged with Southerly, Inc.. Waverly's employees were switched from a weekly to a biweekly pay period. Waverly's weekly payroll amounted to $397,200. The cost of funds for the combined firms is 9.72%. What annual savings if any, are realized by this change of pay period?
The annual savings that the firm can realize is $[]. (Round to the nearest dollar.)
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
