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No More Pencils, Incorporated, disburses checks every 3 weeks that average $90,000 and take 9 days to clear. How much interest can the company earn
No More Pencils, Incorporated, disburses checks every 3 weeks that average $90,000 and take 9 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0,01 percent per day for these 9 days? Ignore the effects of compounding interest. Multiple Choice $1,460.56 $140,400,00 $8100 $1,404.00 51,34784
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