Your firm has an average receipt size of $120. A bank has approached you concerning a lockbox service that will decrease your total collection time by two days. You typically receive 7,400 checks per day. The daily interest rate is .017 percent. The bank charges a lockbox fee of $170 per day. a. What is the NPV of accepting the lockbox agreement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What would the net annual savings be if the service were adopted? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. NPV b. Net annual savings

Your firm has an average receipt size of $135. A bank has approached you concerning a lockbox service that will decrease your total collection time by one day. You typically receive 7, 300 checks per day. The daily interest rate is .016 percent. The bank charges a lockbox fee of $125 per day, a. What is the NPV of accepting the lockbox agreement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What would the net annual savings be if the service were adopted? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

1. You want to open a checking account with a $500 deposit. You estimate you will write 10 checks a month and use an ATM from other banks about twice a week. Bank A charges $1 per check if you drop under a minimum balance of $100, but you can use another bank's ATM without a fee. Bank B has free checking but charges $1 each time you use another bank's ATM. Calculate the difference in fees between the two banks over the course of one year for the following scenarios: a. Your balance slips below $100 every other month. b. Your balance slips below $100 every other month, but you are now able to pay a bill online each month, dropping the number of checks you have to write to nine monthly. You also find you are only using the other bank's ATM about once a week. c. You maintain a minimum balance of $500, write three checks a week, and use another bank's ATM only about once a month.

You have a credit card balance of $2,000 and are able to make payments of $50 per month.  Assume the credit card company charges an annual interest rate of 14% (1.16667% per month).  How many months will it take to pay off the balance.  Assume no other purchases.   Just write the two digit number...no label.