Assuming the bank charges per-check processing? fee

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Reference no: EM131613820

Flashbinder? Guitars, Inc. is negotiating with the bank for a lockbox system that is expected to reduce check collection time by 4 days. Flashbinder? Guitars' average check size is? $1,200 and any funds freed up by the new system will be invested in a money−market account that is currently paying? 2.5% annually. What is the most Flashbinder Guitars should be willing to pay the bank for the lockbox? service, assuming the bank charges a per−check processing? fee?

Reference no: EM131613820

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Assuming the bank charges per-check processing? fee : What is the most Flashbinder Guitars should be willing to pay the bank for the lockbox? service, assuming the bank charges a per-check processing? fee?

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