2.99 See Answer

Question: Your neighbor goes to the post office


Your neighbor goes to the post office once a month and picks up two checks, one for $8,450 and one for $4,200. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month.
a. What is the total float for the month?
b. What is the average daily float?
c. What are the average daily receipts and weighted average delay?


2.99

See Answer