Question: Loch Alva Inc. disburses cheques every two weeks that average $76,000 and take five days to clear. How much interest can the company earn annually

Loch Alva Inc. disburses cheques every two weeks that average $76,000 and take five days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.011% per day for these five days? Ignore the effects of compounding interest. (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit "$" sign in your response.) Interest $

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