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On average, your firm receives 62 checks a day from customers

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Question

On average, your firm receives 62 checks a day from customers. These checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In addition, your firm disburses 38 checks a day with an average amount of $89.50. These checks clear your bank in 2 days. What is the average amount of the collection float?

 

Paper#33891 | Written in 18-Jul-2015

Price : $26
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