FastBucks Has Offered to Set Up a Concentration Banking System

question 78

Multiple Choice

FastBucks has offered to set up a concentration banking system that will save 3 days of mail float and 1 day of processing float. Your receivables average $20,000 per day and the opportunity cost of funds is 6%. How much would you be willing to pay FastBucks annually to administer the system perpetually?

• A) $2,400
• B) $4,800
• C) $40,000
• D)$80,000

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Definitions:

Golden Rule of Selling

A principle in sales emphasizing treating customers as the salesperson would like to be treated, prioritizing customer needs and service quality.

Listening

Ability to derive meaning from sounds that are heard.

Hopeless Objections

Customer concerns during the sales process that appear to be insurmountable and resistant to standard objection-handling techniques.

True Objections

Genuine concerns or hesitations expressed by a potential buyer that need to be addressed by the seller.