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On an average day, the firm receives $3,028 in checks from customers. These checks clear the bank in an average of 1.84 days. The applicable
On an average day, the firm receives $3,028 in checks from customers. These checks clear the bank in an average of 1.84 days. The applicable daily interest rate is 0.021%. What is the maximum amount this store should pay to eliminate its collection float? Assume each month has 30 days
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