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On average, the firm receives 138 payments each day with an average value of $42 each. These payments clear the bank in an average of
On average, the firm receives 138 payments each day with an average value of $42 each. These payments clear the bank in an average of 1.3 days. In addition, it disburses 2.2 checks a day with an average amount of $2,250. These checks clear the bank in two days. What is the average amount of the collection float?
A) $18,473 B) $3,401 C) $7,535 D) $41,965 E) $49,500
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