Interest rate and savings
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Cleaner's Inc. is switching to paying employees every two weeks rather than weekly and will therefore "skip" 1 weeks pay. The firm has 25 employees who work a 60-hour week and earn an average wage of $12.50 per hour. Using a 10% rate of interest, how much will this change save the firm annually?
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This discusses the impact of interest rate on savings.
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Cleaner's Inc. is switching to paying employees every two weeks rather than weekly and will therefore ...
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