Question: What is the TOTAL float , annual float , monthly float and daily float for the following: A firm processes 6000 cheques per month. 60

What is the TOTAL float , annual float , monthly float and daily float for the following: A firm processes 6000 cheques per month. 60 per cent are for $ 70 and take 5 days to clear and 40 per cent are for $ 50 and take 3 days to clear. Please provide detailed workings for Annual float , Monthly float , daily float and total float. Assume 360 days in a year and 30 days in a month.

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