Your neighbor goes to the post office once a month and picks up two checks, one for

Question:

Your neighbor goes to the post office once a month and picks up two checks, one for $20,000 and one for $4,000. The larger check takes four days to clear after it is deposited; the smaller one takes six days.

a. What is the total float for the month?

b. What is the average daily float?

c. What are the average daily receipts and weighted average delay?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Corporate Finance

ISBN: 9780072553079

6th Edition

Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan

See More Books

Question Posted: Oct 04, 2023 02:24 PM

See More Questions

Float and Weighted Average Delay your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes four days to clear after it is...
Your neighbor goes to the post office once a month and picks up two checks, one for $8,450 and one for $4,200. The larger check takes four days to clear after it is deposited; the smaller one takes...
Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $4,500. The larger check takes four days to clear after it is deposited; the smaller one takes...
Consider the examples of groupthink explained in this chapter and discuss how they can relate to situations you have experienced on your projects.
Define the key elements of the REA model.
When red blood cells are counted using a certain electronic counter, the standard deviation of repeated counts of the same blood specimen is about 0.8% of the true value, and the distribution of...
What are the criteria used for estimating the total effort required by a salesperson to cover a territory?
Downtown Health Clinic needs to order influenza vaccines for the next flu season. The Clinic charges its patients $15.00 per vaccination and each dose of vaccine costs the clinic $4.00 to purchase....
Name Exp.Strain Force[Lb] Force[N] Sg1ustrain] Sg2[ustrain] Sg4[ustrain] Sg6[ustrain] Sg8[ustrain] Neutral axis from top[in] 1.0335 22.5 100 -106.6 -73.1 -12.7 22.8 48.7 From bottom [in] 0.4665 45.0...
The Bud Wiser Company is currently holding $600,000 in cash. It projects that over the next year its cash outflows will exceed cash inflows by $340,000 per month. How much of the current cash holding...
Most often, when news breaks about a firms cash position, its because the firm is running low, but that wasnt the case for Ford, Chrysler, and General Motors at the end of 1997. At that time, Ford...
Chanel, Inc. is a corporate entity duly organized under the laws of the state of New York, with its principal place of business in New York City. Chanel is engaged in the business of manufacturing...
The children decided to call in a very wise judge to help in the distribution of the rancher's estate. They informed the judge that the 17 horses were not of equal value. The children agreed on a...
(a) Calculate the equilibrium constant, $K_{p}$, at $2000 \mathrm{~K}$ at the reference pressure of $1 \mathrm{~atm}$ for the reaction \[\mathrm{CO}+\mathrm{H}_{2} \mathrm{O} \Leftrightarrow...
Methane $\left(\mathrm{CH}_{4} ight)$ is burned with $50 \%$ excess air. The equilibrium products at a pressure of 10 bar and a temperature of $1600 \mathrm{~K}$ contain \(\mathrm{CO}_{2},...
A method of reducing (improving) engine fuel consumption and reducing the emissions of $\mathrm{NO}_{\mathrm{x}}$ in a spark-ignition engine is to run it lean, i.e. with a weak mixture. Discuss the...
The structure of ethylene is $\mathrm{H}_{2} \mathrm{C}=\mathrm{CH}_{2}$. Estimate the enthalpy of reaction when $1 \mathrm{kmol}$ of ethylene is completely oxidised. Compare the value obtained...
Presented below and on page 678 are three independent situations. 1. Longbine Corporation redeemed $130,000 face value, 12% bonds on June 30, 2017, at 102. The carrying value of the bonds at the...
Pearl Medavoy will invest $10,240 a year for 20 years in a fund that will earn 10% annual interest. . If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If...
Given the U.S. Corporate Tax Rate Schedule in Exhibit 11.6, what is the marginal tax rate and average tax rate of a corporation that generates a taxable income of $12 million in 2010?
Healthy Potions, Inc., is considering investing in a new production line for eye drops. Other than investing in the equipment, the company needs to increase its cash and cash equivalents by $10,000,...
Given the soaring price of gasoline, Ford is considering introducing a new production line of gas-electric hybrid sedans. The expected annual unit sales of the hybrid cars is 30,000; the price is...
The rigid beam is supported by a pin at C and an A992 steel guy wire AB of 10 feet long. If the wire has a diameter of 0.5 in., determine the distributed load w if the end B is displaced 0.15 in....
a) How are the building connections classified based on their moment-rotation characteristics? b) Determine the safe load P that can be carried by the joint shown in Figure. The bolts used are 20 mm...
A pressure line supplies a gas A and is connected to an adiabatic piston-cylinder system as shown below. The left, connected chamber is filled with the same gas A. The right chamber contains a gas B....

Your neighbor goes to the post office once a month and picks up two checks, one for

Question:

Step by Step Answer:

a Total float for the month Total float 20000 4 4000 6 104000 b Average daily float Ave...View the full answer

Fundamentals Of Corporate Finance

Students also viewed these Business questions