Question: An online ticket seller processes 8 , 2 0 0 checks per month. Of these, 6 4 percent are for $ 3 9 while the

An online ticket seller processes 8,200 checks per month. Of these, 64 percent are for $39 while the remainder are for $69. The $39 checks have a collection delay of 2.1 days, on average, while the $69 checks are delayed 1.8 days, on average. Assume each month has 30 days. The interest rate is 5.2 percent per year. What is the maximum amount that should be paid to reduce the weighted average float to 1.5 days?
$5,825
$8,650
$10,990
$9,675
$6,130

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