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Chapter 19 A Saved Help Save & Exit Sub Check my wor 4 Sussex Inc., a large fertilizer distributor based in Nova Scotia, is planning
Chapter 19 A Saved Help Save & Exit Sub Check my wor 4 Sussex Inc., a large fertilizer distributor based in Nova Scotia, is planning to use a lockbox system to speed up collections from its customers located on the West Coast. A Vancouver-area bank will provide this service for an annual fee of $9,000 plus 15 cents per transaction. The estimated reduction in collection and processing time is one day. Treasury bills are currently yielding 5% per year and assume 365 days per year. 10 points If the average customer payment in this region is $5,100, how many customers each day, on average, are needed to make the system profitable for Sussex? (Do not round your intermediate calculations. Round the final answer to 2 decimal places.) eBook Number of customers per day Print References
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