Your neighbor goes to the post office once a month and picks up two checks, one for

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Your neighbor goes to the post office once a month and picks up two checks, one for $9,700 and one for $2,600. The larger check takes four days to clear after it is deposited; the smaller one takes five days.

a. What is the total float for the month?

b. What is the average daily float?

c. What are the average daily receipts and weighted average delay?

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Corporate Finance

ISBN: 978-0077861759

11th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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Question Posted: Jun 22, 2017 10:11 AM

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Your neighbor goes to the post office once a month and picks up two checks, one for

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