Question
1. Which of the following collection agencies would be the best choice to represent a practice based on financial statistics? Why? Company A collection rate
1. Which of the following collection agencies would be the best choice to represent a practice based on financial statistics? Why?
Company A collection rate of 30 percent, charges 50 percent of the funds it collects.
Company B: Collection rate of 20 percent, charges 30 percent of the funds it collects.
(Hint: Work out the results based on $100.)
2.Assume that the practice has sent $10,000 worth of unpaid balances to Company B. How much money would the practice expect to receive based on the listed percentages?
I know the answer to part one.
How do I solve part 2?
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