Proposed lockbox system can eliminate

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Aqua System Inc. expects to have $27,823,700 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 5.08 percent per year. What annual savings can Aqua System expect if the system is implemented? Use a 365-day year.

Round the answer to two decimal places

Reference no: EM13810387

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Proposed lockbox system can eliminate : Aqua System Inc. expects to have $27,823,700 in credit sales during the coming year. Currently all checks are sent to the home office. A proposed lockbox system can eliminate 1 days of float, releasing funds which, when invested, will earn 5.08 perce..

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