What is the average daily float

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Reference no: EM131891766

Your neighbor goes to the post office once a month and picks up two checks, one for $14,100 and one for $5,100. The larger check takes three days to clear after it is deposited; the smaller one takes two 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.)

Total float $

b. What is the average daily float? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Average daily float $

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.)

Average daily receipts $

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.)

Weighted average delay days

Reference no: EM131891766

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