Gilley Weed Diving Co. has a total monthly disbursement float of $180,000. Assuming 30 days in a month and a money market daily return of 0.018%, what is the company's daily gain from disbursement float?
Gilley Weed Diving Co. has a total monthly disbursement float of $180,000. Assuming 30 days in a month and a money market daily return of 0.018%, what is the company's daily gain from disbursement float?
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2MC
Question
![Gilley Weed Diving Co. has a total
monthly disbursement float of
$180,000. Assuming 30 days in a
month and a money market daily
return of 0.018%, what is the
company's daily gain from
disbursement float?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2f9c3ee4-3184-4dac-b08f-3b624081feab%2Fa474bbbb-7df1-410a-80d4-ff4b2569ab6a%2Fy1807sr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Gilley Weed Diving Co. has a total
monthly disbursement float of
$180,000. Assuming 30 days in a
month and a money market daily
return of 0.018%, what is the
company's daily gain from
disbursement float?
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