15-9 Astro Turf Gardening's (ATG) disbursement float currently is three (3) days. ATG can increase...
80.2K
Verified Solution
Link Copied!
Question
Accounting
15-9 Astro Turf Gardening's (ATG) disbursement float currently is three (3) days. ATG can increase its disbursement float to five (5) days by paying its raw material suppliers from accounts maintained at banks located in different Federal Reserve districts than the suppliers' banks. ATG averages payments equal to $300,000 each day. If its opportunity cost is 15 percent, how much would ATG save each year by paying suppliers using accounts at more distant banks? (LO 15-2)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.