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Styella Dealers Ltd. writes out a check averaging R8 500 per day, and it takes seven days for these checks to clear. The firm also receives checks in the amount of R2 000 per day, but the firm loses 3 days while its receipts are being deposited and cleared. What is the firm’s net float in rand terms? R19 500 R40 000 R53 500 R59 500

Styella Dealers Ltd. writes out a check averaging R8 500 per day, and it takes seven days for these checks to clear. The firm also receives checks in the amount of R2 000 per day, but the firm loses 3 days while its receipts are being deposited and cleared. What is the firm’s net float in rand terms? R19 500 R40 000 R53 500 R59 500

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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QUESTION 15

Styella Dealers Ltd. writes out a check averaging R8 500 per day, and it takes seven days for these checks to clear. The firm also receives checks in the amount of R2 000 per day, but the firm loses 3 days while its receipts are being deposited and cleared. What is the firm’s net float in rand terms?

  1. R19 500

  2. R40 000

  3. R53 500

  4. R59 500

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