How Much Time Must Be Saved to Justify a Lock-Box

question 87

Multiple Choice

How much time must be saved to justify a lock-box system that processes 350 cheques per day at an average amount of $400 per cheque if the system will cost $20,000 annually and interest rates average 8 percent?

• A)0.56 days
• B)1.79 days
• C)2.14 days
• D)7.00 days

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Definitions:

Middle Eastern Countries

Nations located in the Middle East region, characterized by cultural, religious, and geopolitical diversity, including countries such as Saudi Arabia, Iran, and Israel.

Asian Countries

Refers to nations located on the continent of Asia, including, but not limited to, China, India, Japan, and South Korea.

Bipolar Disorder

A mental health condition characterized by significant mood swings, including manic (or hypomanic) and depressive episodes, affecting one's behavior and functioning.

Schizophrenia

A grave mental illness defined by abnormalities in thought processes, awareness, moods, speech, self-conception, and activities.