Thrifty Corp

question 32

Essay

Thrifty Corp.is establishing a lock-box system to reduce time in the collection process.They anticipate saving two days of mail time and.75 days of processing time through the system.Six hundred payments are expected to be collected daily, at an average size of $200.The appropriate interest rate is 6 percent per year.What is the break-even charge per item that you could consider paying to a bank for providing this service?

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Definitions:

Biological Psychology

A branch of psychology that studies the physiological bases of behavior in humans and animals.

Evolutionary Psychology

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective.

Functionalism

A theory in psychology that considers mental life and behavior in terms of active adaptation to the person's environment.

Venting Anger

The act of expressing or releasing feelings of anger in various ways, which can be constructive or destructive.