Question: Every two weeks, No More Pencils, Incorporated, disburses checks that average $124,000 and take seven days to clear. How much interest can the company earn

Every two weeks, No More Pencils, Incorporated, disburses checks that average

Every two weeks, No More Pencils, Incorporated, disburses checks that average $124,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays .009 percent per day for these seven days? Ignore the effects of compounding interest. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Interest

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