A firm has daily cash receipts of P100,000. A bank has offered to reduce the collection time on the firm's deposits by three days for
A firm has daily cash receipts of P100,000. A bank has offered to reduce the collection time on the firm's deposits by three days for a monthly fee of P500. If money market rates are expected to average 5% during the year, the net annual benefit (loss) from having this service is * COM Format: 1, 111
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