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Honest Joe has collection centres around the country to speed up cash collections. The company also makes e dissements from remote disbursement centres, so cheques

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Honest Joe has collection centres around the country to speed up cash collections. The company also makes e dissements from remote disbursement centres, so cheques written by Sheila's take longer to clear the bank. Collection time has been reduced try three days and disbursement time has been increased by two days because of these policies. Excess funds are being meested in shon term instruments yielding 4 percent per annum a. If the firm has $4.35 million per day in collections and $360 million per day in disbursements, how many dollars has the cash management system freed up? (Enter the answer in dollars not in millions.) Freed-up funds $1 b. How much can Honest Joe eam per year on short-term investments made possible by the freed-up cash? (Enter the answer in dollars not in millions.) Interest on freed-up cash

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