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Author Question: The benefits of a lockbox system include all of the following EXCEPT A) increased working cash. ... (Read 24 times)

craiczarry

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on: Jul 10, 2018
The benefits of a lockbox system include all of the following EXCEPT
 
  A) increased working cash. B) early knowledge of dishonored checks.
  C) increase in total float. D) elimination of clerical functions.

Question 2

Which of the following is greater (answers rounded to the nearest cent)?
 
  A) An ordinary annuity of 100.00 per year for three years discounted at 10 per year
  B) A present value of 248.69
  C) A future value of 331.00 three years from today, given an interest rate of 10 per year
  D) You would be indifferent to the three choices since they all have the same present value when using an interest rate of 10 per year.


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morrie123456

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Reply #1 on: Jul 10, 2018
Answer to Question 1

C

Answer to Question 2

Answer: D
Explanation: D) Each choice has a PV of 248.69.
PV = PMT  = 100  = 248.69
PV = = = 248.69.


craiczarry

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Reply 2 on: Jul 10, 2018
Wow, this really help

bigcheese9

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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