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How much money is tied up in this interval of time

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Speedway Owl Company franchises "Gas and Go" stations in North Carolina and Virginia. All payments by franchisees for gasoline and oil products, which average $420,000 a day, are by check. At present, the overall time between the mailing of the check by the franchisee to

Speedway Owl and the time the company has collected or available funds at its bank is six days.

a. How much money is tied up in this interval of time?

Reference no: EM132544524

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