How Much Money Can Be Saved Annually by Setting Up

question 79

Multiple Choice

How much money can be saved annually by setting up a lock-box system that will process 500 cheques per day at a cost of $0.20 per cheque if each cheque averages $220, collection float is reduced by three days, and the annual interest rate is 8 percent?

• A)($27,700)
• B)($10,100)
• C)$10,000
• D)$16,400

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Definitions:

Affirmative Action

Job-hiring policies that give special consideration to members of protected classes in an effort to overcome present effects of past discrimination.

Unconstitutional

Not in accordance with the constitution of a country or the foundational principles upon which the legal system is built.

Protected Classes

Groups of people legally protected from discrimination by law, based on characteristics such as race, gender, age, or disability.

Employment Discrimination

The unfair or prejudiced treatment of individuals in the workplace based on characteristics such as age, race, gender, or religion.