Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Specialty Co. deals strictly with three customers who pay monthly amounts of $340,800, $262,900, and $81,300. The $81,300 payment has a collection delay of 2.5
Specialty Co. deals strictly with three customers who pay monthly amounts of $340,800, $262,900, and $81,300. The $81,300 payment has a collection delay of 2.5 days while the other two have a delay of 1.5 days. What is the weighted average delay assuming each month has 30 days?
Multiple Choice
-
1.98 days
-
2.01 days
-
1.62 days
-
1.57 days
-
1.78 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started