Question: No More Pencils, Inc., disburses checks every two weeks that average $93,000 and take seven days to clear. Ignore the effects of compounding interest. What

No More Pencils, Inc., disburses checks every two weeks that average $93,000 and take seven days to clear. Ignore the effects of compounding interest. What is the average daily disbursement float

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Hoover, the wealthy heir to a candy fortune who spent his days managing his extensive stock and bond portfolio, married Wendy on December 31, 2014 and live in California . Wendy was a physician and...

A mail-order firm processes 4,300 checks per month. Of these, 60 percent are for $33 and 40 percent are for $65. The $33 checks are delayed two days on average; the $65 checks are delayed three days...

No More Pencils, Inc., disburses checks every two weeks that average $89,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

No More Pencils, Inc., disburses checks every two weeks that average $84,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

Value of Delay no more pencils, Inc., disburses checks every two weeks that average $57,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of...

No More Pencils, Inc., disburses checks every two weeks that average $95,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

No More Pencils, Inc., disburses checks every two weeks that average $92,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

No More Pencils, Inc., disburses checks every two weeks that average $52,800 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

Value of Delay [LO2) No More Pencils, Inc., disburses checks every two weeks that average $93,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer...

No More Pencils, Inc., disburses checks every two weeks that average $61,700 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

No More Pencils, Inc., disburses checks every two weeks that average $97,000 and take seven days to clear. How much interest can the company earn annually if it delays transfer of funds from an...

Sugar Sugar Inc. has provided the following relating to the most recent month September 30, 2016) of operations, for their main product, cookies. The company sold 10,000 cookies. Sugar Sugar Inc....

Glenview Corp. is considering refinancing its' current $24 million bond obligation. The bonds were initially issued at 11%, yet current rates on similar bonds have fallen to 8.6%. The bonds were...

Celves ( 1 ) 1 2 b A - 1 : b B = 1 Question 2 3 pts Which of the following statements is CORRECT? It is impossible to have a situation where the market risk of a single stock is less than that of a...

2023 1040 form 1.Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent...