Fall 2020: MUT 9170 13, Homework: WEEK 7 ASSIGNMENT - CHAPTER 19 Score g of 1 pf HW Score $3 945p W P 19-10 (book/static) Thin Saban Corporation is trying to decide whether to switch to a bank that will accommodate electronic funds travelers from Sebast's cystenters Sabant's Proceeded manager believes the new system would decrease it's collection float by as much as 5 days The now bank would require a compensating balance of BIS 809 phineas its present bank has no compensating balance requirement. Saban's average daily collections are $10 000, and it can earn 8 0% on its shed tous to'scoments' flags Saban make the switch? (Assume the compensating balance at the now bank will be deposited in a non-interest-earning account ) As a result of using the electronic funds transfer bystern, the amount of collection float freed up by the loan is $ (Round to the nearest dollar) The amount that is immediately available to Saban Corporation after setting aside the compensating balance in $ (Round to the nearest dollar ) Acrobat Reader DC Enter your answer in the answer box and then click Check Answer. 7 Check