Your neighbor goes to the post office once a month and picks up two checks, one for

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Your neighbor goes to the post office once a month and picks up two checks, one for $9,200 and one for $2,400. The larger check takes four days to clear after it is deposited; the smaller one takes five days.

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?

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Corporate Finance

ISBN: 978-1259918940

12th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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Question Posted: Dec 13, 2019 07:22 AM

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Your neighbor goes to the post office once a month and picks up two checks, one for

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a Total float 49200 52400 Total float 48800 b The average daily f...View the full answer

Corporate Finance

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