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

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Finance

Your neighbor goes to the post office once a month and picks up two checks, one for $138,00 and one for $4800 The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? b. What is the average daily float? c-1. What are the average daily receipts? c-2. What is the weighted average delay?

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