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On an average day a store receives $2,420 in checks. These checks clear the bank in an average of 2.1 days. The daily interest rate
On an average day a store receives $2,420 in checks. These checks clear the bank in an average of 2.1 days. The daily interest rate is 0.025 percent. What is the max amount this store should pay to completely eliminate its collection float? Each month has 30 days.
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