the cost of lock box as follow, the bank charges $0.25 per item for the lockbox service

Ben Company is using lockbox system. He found out the cost for this lockbox as follow. The bank charges $0.25 per item for lockbox service. Ben want to invest cash with the bank at an annual interest rate of 9%. He has estimated that using lockbox would speed up collections by 5 days. Required: 1) What is the effective interest rate ? (****keep 8 decimals, ie 0.01234567) 2) What is the breakeven amount at which there is indifferent as customer sent cheque directly to Ben or use lockbox. $ (*** Round to 2 decimal (ie 12.4 --> 12.40), ***# only 12345**** , No $ 12345 or 12,345)