Question: 4. Float and Weighted Average Delay [LO1] Your neighbor goes to the post office once a month and picks up two checks, one for $10,700

4. Float and Weighted Average Delay [LO1] Your neighbor goes to the post office once a month and picks up two checks, one

4. Float and Weighted Average Delay [LO1] 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? b. What is the average daily float? c. What are the average daily receipts and weighted average delay? B D E G H J 1 Chapter 19 Question 4 2 3 4 5 Input Area: 6 7 $ $ 8 9 10 Check #1 value Check #2 value Clearing time #1 Clearing time #2 # of days per month 10.700 4.600 4 3 30 11 12 13 Output: 14 15 16 17 18 19 20 21 Total float Average daily float Average daily receipts Weighted average delay 22 23 24 25

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