In a typical month, the Monk Corporation receives 80 checks totaling $113,000. These are delayed four days

Question:

In a typical month, the Monk Corporation receives 80 checks totaling $113,000. These are delayed four days on average. What is the average daily float? Assume 30 days in a month.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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