Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sheila's Society Clothing Manutacturer has collection centres around the country to speed up cash collections. The company also makes its disbursements from remote disbursement centres,

image text in transcribed

Sheila's Society Clothing Manutacturer has collection centres around the country to speed up cash collections. The company also makes its disbursements from remote disbursement centres, so cheques written by Sheilas take longer to clear the bank Collection time has been reduced by two and one half days and distursement time has been increased by one and one half days because of these polides Excess Funds are being invested in short-term instruments yielding pero per annum 6. If the firm as $4 milion pertay in collections and 63 million per day in disbursements how many dollars has the cash management system treed up Enter the answer in dollars not in millions Freed-up funds b. How much can helt earn per year on short term investments made possible by the freed up cas Enter the answer in dollars not in millions interest on freedup.cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Real Estate Finance Theory And Practice

Authors: Terrence M. Clauretie, G. Stacy Sirmans

4th Edition

032414377X, 978-0324143775

More Books

Students also viewed these Finance questions

Question

Discuss how selfesteem is developed.

Answered: 1 week ago

Question

Identify ways to increase your selfesteem.

Answered: 1 week ago

Question

Define self-esteem and discuss its impact on your life.

Answered: 1 week ago