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How much is the lockbox worth on a monthly basis

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Question - Mzansi, on average states that it takes 5 days from the time customers payments until Mzansi is able to receive, process and deposit them. Mzansi would like to setup a lockbox collection system, which it estimates would reduce the time lag from customer posting to deposit by four days bringing it down to one day. Mzansi receives an average of $2 520 000 in payments per day; If Mzansi opportunity cost is 10 percent, how much is the lockbox worth on a monthly basis?

Reference no: EM132565402

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