Please show your work for all questions and highlight your final answer, failure to show your work will automatically cause the question to be counted wrong. Excel documents are not accepted. per assignment direction.

3. Use the following assumptions to determine the determine the collected balance that would be required to offset a monthly service charge of $400:

Ledger Balance = $300,000 Deposit Float = $100,000 Monthly Earnings Credit = $165 Days in Month = 30 days Reserve Requirement Ratio = 10%

A. 112%

B. 0.011%

C. 1.12%

D. 1.56%

4. Use the following monthly information to solve for the total dollar-days of float.

Remittances Collection Float $20,000 3 days $15,000 4 days Days in Month = 30 days Annual opportunity cost of funds = 6%

A. $4000

B. $240

C. $7200

D. $120,000