The local garbage company charges $6 a monthfor garbage
Chapter , Problem 3-66(choose chapter or problem)
The local garbage company charges $6 a monthfor garbage collection. It had been their practiceto send out bills to their100,000 customers at theend of each 2-month period. Thus, at the end ofFebruary it would send a bill to each customerfor $12 for garbage collection during January andFebruary.Recently the firm changed its billing date: itnow sends out the 2-month bills after one monthsservice has been performed. Bills for January andFebruary, for example, are sent out at the end ofJanuary. The local newspaper points out that the firmis receiving half its money before the garbage collec-tion. This unearnedmoney,the newspapersays,couldbe temporarily invested for one month at 1% permonth interest by the garbage company to earn extraincome.Compute how much extra income the garbagecompany could earn each year if it invests the moneyas described by the newspaper.
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