Evaluate the competing balance

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Reference no: EM131941450

Question: Your banker has analyzed your company account and has suggested that her bank has a cash management package for you. She suggests that with a concentration banking system, your float can be reduced by 4 days on average. You of course, are delighted but you do know your average provinces this service for $56, 500 plus a compensating balance in your current account of $79, 000. A competing balance is the amount you are required to maintain interest free at that bank.

Reference no: EM131941450

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