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What is the maximum amount finley inc should pay

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Question - On an average day, Finley, Inc. receives $3,000 in checks from customers. These checks clear the bank in an average of 2.5 days. The applicable daily interest rate is .05%. What is the maximum amount Finley, Inc. should pay to completely eliminate the collection float? Assume each month has 30 days.

Reference no: EM133106695

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