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    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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    https://brainmass.com/business/interest-rates/interest-rate-savings-206050

    Solution Preview

    Cleaner's Inc. is switching to paying employees every two weeks rather than weekly and will therefore ...

    Solution Summary

    This discusses the impact of interest rate on savings.

    $2.49

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