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DATA INPUTS U. S. Bank Wells Fargo Annual interest rate =3.84%3.84% ...

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Finance

DATA INPUTS
U. S. Bank Wells Fargo
Annual interest rate =3.84%3.84%
Average value of each payment = $5,470 $5,470
Average # of payments per day =7878
Annual fixed charge = $9,500 $31,500
Lockbox fee per payment = $0.64 $0.41
(a) How many customers are needed, on average each day, to make each of the lockbox systems break even?
(b) How much of a reduction in accounts receivable should Global expect from the Preferred Lockbox System if implemented in 2024?

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