Float and Weighted Average Delay Your neighbor goes to the post offi ce once a month and

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Float and Weighted Average Delay Your neighbor goes to the post offi ce once a month and picks up two checks, one for $16,000 and one for $3,000. The larger check takes four days to clear after it is deposited; the smaller one takes fi ve days.

a. What is the total fl oat for the month?

b. What is the average daily fl oat?

c. What are the average daily receipts and weighted average delay? LO.1

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