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Our current annual credit sales are $14,781,682m. Using wire transfers instead of depository transfer checks would allow us to get our funds 3 days faster
Our current annual credit sales are $14,781,682m. Using wire transfers instead of depository transfer checks would allow us to get our funds 3 days faster but would cost $11 more per transfer. We can earn 3% on released funds. Find the net benefit. Hint: Interest is earned 365 days a year but someone needs to be in the office to do the wire transfer so they are done 250 days a year.
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