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Community Hospital has annual net patient revenues of $ 1 5 0 million. At the present time, payments received by the hospital are not deposited
Community Hospital has annual net patient revenues of $ million. At the present time, payments received by the hospital are not deposited for days on average. The hospital is exploring a lockbox arrangement that promises to cut the days to day. If these funds released by the lockbox arrangement can be invested at what will the annual savings be Assume the bank fee will be $ per month.
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