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Hello…
I have some problems in understanding why the one-off payment amounting to $25,000 have been multiplied by the overdraft rate of 12%.
Also, my layout of the answer different. Here’s what I did….
Annual benefits
– Finance saving on reduced receivables $29,25
– Salary $12,500
– Bad debts saved $67,500Annual costs
– Factor’s fees $90,000
– One-off payment $25,000Net Cost $5750
Is this layout appropriate?
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