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Ace Trucking Company pays its employees at the end of each work week. The weekly payroll totals $500,000. The firm decides to extend the pay
Ace Trucking Company pays its employees at the end of each work week. The weekly payroll totals $500,000. The firm decides to extend the pay period so as to pay its employees one week later throughout an entire year. a. How much would the employees be loaning the firm for a year? b. If the firm can earn 10% annually on invested funds, how much could the firm save by this delay?
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