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Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? b. What is the average daily float? (Round your answer to 2 decimal places, e.g.. 32.16.) c-1. What are the average daily receipts? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c-2. What is the welghted average delay? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Total float Average daily float Average daily receipts Weighted average delay 0-1. C-2. days
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