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Your neighbor goes to the post office once a month and picks up two checks, one for $14,200 and one for $5,200. The larger check
Your neighbor goes to the post office once a month and picks up two checks, one for $14,200 and one for $5,200. The larger check takes five days to clear after it is deposited; the smaller one takes four days. Assume 30 days in a month. |
a. | What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
b. | What is the average daily float? (Do not round intermediate calculations and 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.) |
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