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Your neighbor goes to the post office once a month and picks up two checks, one for $10,700 and one for $4,600. The larger check
Your neighbor goes to the post office once a month and picks up two checks, one for $10,700 and one for $4,600. 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? (Do not round intermediate calculations.) b. What is the average daily float? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) - What are the average daily receipts? (Do not round intermediate calculations and 1. round your answer to 2 decimal places, e.g., 32.16.) - What is the weighted average delay? (Do not round intermediate calculations and 2. round your answer to 2 decimal places, e.g., 32.16.) a. b. Total float Average daily float Average daily receipts Weighted average delay C-1. c-2. days
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