Suppose you mail a check each month for $ 3 , 0 0 0 and it takes

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Question:

Suppose you mail a check each month for $

3, 000

and it takes

4

days to reach its destination,

2

days to process, and

1

day before the bank makes the cash available. What is the average daily float

(

assuming

30 -

day months

) ?

(4 + 2 + 1) (3000) / 30 = 700

average daily float

Posted Date: May 18, 2024 06:16 PM

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Suppose you mail a check each month for $ 3 , 0 0 0 and it takes

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