Spruce Bank Is Planning to Automate Some of Its Back

question 106

Multiple Choice

Spruce Bank is planning to automate some of its back office functions and reduce operating costs.The installation of new computers and software will require an initial investment of $1,000,000.The savings generated because of reduced personnel cost is $200,000 per year.The bank uses an 8 percent rate of discount to evaluate cost saving projects which are expected to last 10 years.

The maximum cost savings that can be generated with this new equipment has been estimated to be $264,237.In order to accept this project,what is the minimum number of years the projected savings must be realized before the project breaks even?

• A)3.7 years.
• B)4.7 years.
• C)5.7 years.
• D)6.7 years.

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Social Information

Data derived from social interactions or contexts, used to guide behaviors and decisions.

Subregion

A smaller, distinct part within a larger region or area, often with its own unique characteristics or functions.

Hippocampus

The hippocampus is a vital region of the brain involved in memory formation, spatial navigation, and the processing of emotional responses.

Procedural Memory

A type of long-term memory that involves the memory of how to perform different actions and skills, essentially the memory of motor skills.