Your neighbor goes to the post office once a month and picks up two checks, one for $34,000 and one for $6,000. The larger check takes four days to clear after it is deposited; the smaller one takes six days. What is the average daily receipts (assume one month has 30 days)? $1667 $0 $333 $667 $1333
Your neighbor goes to the post office once a month and picks up two checks, one for $34,000 and one for $6,000. The larger check takes four days to clear after it is deposited; the smaller one takes six days. What is the average daily receipts (assume one month has 30 days)? $1667 $0 $333 $667 $1333
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 5FPE: Calculating the net costs of checking accounts. Determine the annual net cost of these checking...
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