The Siskiyou Manufacturing Company will collect an estimated ...

[saraeharris]

The Siskiyou Manufacturing Company will collect an estimated 12,000,000 next year; and it will
  receive an estimated 20,000 checks.
 
  Siskiyou's bank has offered to set up a lock-box system that will
  reduce float time by 4.5 days. The cost of the system will be .15 per check. What is the minimum
  annual interest rate on its cash balance that Siskiyou should receive before it would be willing to
  adopt the lock-box system?
  A) 3.25 B) 1.07 C) 1.82 D) 2.03

Question 2

Suppose you put 100 into a savings account today, the account pays a nominal annual interest rate of 6 percent, but compounded semiannually, and you withdraw 100 after 6 months.
 
  What would your ending balance be 20 years after the initial 100 deposit was made?
  A) 226.20
  B) 115.35
  C) 62.91
  D) 9.50
  E) 3.00

[rekilledagain]

Answer to Question 1

D

Answer to Question 2

D

[saraeharris]

Excellent

[ashely1112]

Gracias!