The PMI,Inc

question 83

Multiple Choice

The PMI,Inc.processes an estimated 200,000 checks per year from its customers.Total revenue collected by check is $40,000,000.The average float time until the funds are credited to PMI's checking account is 6 days.For an extra cost of $ .06/check,PMI's bank will install a lock-box system that will reduce float time from 6 days to 2.5 days.If PMI earns 3.5% on its checking account,how much per check will PMI make if it uses the lock-box system?

• A) $.005
• B) $.006
• C) $.007
• D) $.008

---

Definitions:

Separate Sex and Love

The idea that sexual attraction and romantic love can exist independently of one another.

Social Psychological Research

The study of how individuals think, behave, and interact within a social context, including the influences of others on thought, feeling, and behavior.

Gender Differences

The distinctions in characteristics, behaviors, or roles typically associated with being male or female, often influenced by social, cultural, and biological factors.

Sex Drive

The biologically driven component of human desire for sexual activity and expression.