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No More Pencils, Incorporated, disburses checks every 1 weekl that average $75,000 and take 6 days to clear. How much interest can the company earn
No More Pencils, Incorporated, disburses checks every 1 weekl that average $75,000 and take 6 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.02 percent per day for these 6 days? Ignore the effects of compounding interest. Multiple Choice $4,492.80 o $4,680.00 $4,867.20 O $90.00 o $468,000.00
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