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Community Hospital has annual net patient revenues of $150 million. At the present time, payments received by the hospital are not deposited for six days on average. The hospital is exploring a lockbox arrangement that promises to cut the six days to one day. If these funds released by the lockbox arrangement can be invested at 8 percent, what will the annual savings be? Assume the bank fee will be $2,000 per month.
12 years ago

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Aggy
150,000,000/365 X 6 days = 2,465,753
11 years ago
Anonymous
dfgfdgdf
8 years ago

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