Multiple Choice
How much time must be saved to justify a lock-box system that processes 350 cheques per day at an average amount of $400 per cheque if the system will cost $20,000 annually and interest rates average 8 percent?
A) 0.56 days
B) 1.79 days
C) 2.14 days
D) 7.00 days
Correct Answer:
Verified
Correct Answer:
Verified
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