Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your neighbor goes to the post office once a month and picks up two checks, one for $14,700 and one for $5,700. The larger check
Your neighbor goes to the post office once a month and picks up two checks, one for $14,700 and one for $5,700. The larger check takes three days to clear after it is deposited; the smaller one takes two days. Assume 30 days in a month. What is the total float for the month? . 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 weighted 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 b. Average daily receipts -1. Weighted average delay -2. 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