Carla Vista Design has daily sales of $54,000. The financial management team has determined that a lockbox would reduce the collection time by 1.7 days. Assuming the company can earn 4.1 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.) what is the Savings from the lockbox per year?
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- ACE Design has daily sales of $52,000. The financial management team has determined that a lockbox would reduce the collection time by 2.9 days. Assuming the company can earn 6.8 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.) Savings from the lockbox $__________ per yearMacy's Design has daily sales of $42,000. The financial management team has determined that a lockbox would reduce the collection time by 1.2 days. Assuming the company can earn 7.9 percent interest per year, what are the savings from the lockbox? (Round answer to 2 decimal places, e.g. 12.25.)4. Consider a credit card with a balance of $7000. You wish to pay off the credit card, which has an APR of 17.99%, within 1 year. Calculate the following. Round your answer to the nearest cent, if necessary. a. Find the number of months you will need to pay the credit card if you pay $585 per month. b. Will you meet your goal and have the credit card paid in one year?
- How many years will it take Rexchem, Inc., to accumulate $725,000 for a chemical feeder, if the company deposits $50, 000 each year, starting one year from now, into an account that earns interest at 10% per year? (Round up your answer to an integer value.) Rexchem, Inc., will take years.Complete the problems below. 1. A company will need $40,000 in four years for a new addition. To meet the goal, the company will deposit money into an account paying 6% annual interest, compounded monthly. How much should the company deposit each month in order to be able to pay for the addition? Looking at a couple of scenarios to compare to the initial investment (above): a. Exactly 20 months after the company begins their investment (above), they receive a payment from a settled lawsuit of $2000 that they immediately deposit into the account. If they continue, uninterrupted, with their monthly deposits, will the company be able to afford to add a skylight to the addition if the change order (the amount added to the original cost of $40,000) is $3000? If yes, how much, if any would be left over? If no, how much more money will they need? b. Suppose that instead of depositing the money monthly for five years, they decide to finance the addition (the original $40,000) for four years at…A company is considering getting involved in electronic commerce. A modest e-commerce package is available for $24,000. If the company wants to recover cost in 2 years, what is the equivalent amount of new income that must be received every 6 months if the interest rate is 8% per quarter? Round your answer to 2 decimal places.
- A company can earn 8.5% on amount deposited now. For an IT project, the company predicts to have these components costs: Yearl $25,000 Cost associated with year 1 reduced by 21% Cost associated with year augmented by 3% Year2 Year6 How much money should the company deposit now. At the end of each year, try to analyze the balance (the available amount of money against the inflow).Ivanhoe Traders has annual sales of $1,600,000. The firm's financial manager has determined that using a lockbox will reduce collection time by 2.1 days. If the firm's opportunity cost on savings is 4.90 percent, what are the savings from using the lockbox? (Do not round itermediate calculations. Use 365 days for calculation. Round answer to 2 decimal places, e.g. 12.25.) what is the Savings from using the lockbox?An annual maintenance cost of a machine is 500 this year. It is expected to increase 50 pesos per year. If the rate of interest is 4% compounded annually. How much money must be set aside today to cover all the maintenance expenses for the next 10years? This question is an arithmetic gradient question, please include the details. Thanks.
- I now have $23,000 in the bank earning interest of 0.50% per month. I need $33,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $33,000? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel. Time required monthsIf an investment of $5,000 is made in an account returning 2% ,then how long will it take for the account to have $10,000 if: (a) Interest is compounded monthly? (12 times a year) (b) Interest is compounded continuously?Give your answers rounded to two decimal places.The manger of a technology store wants to save $40,000 in 3 years to make a down payment on a condominium. How much (in dollars) does the manager need to invest at the beginning of each week into an account that earns 9.75% interest compounded weekly? Round your answer to the nearest cent.)