Your neighbor goes to the post office once a month and picks up two checks, one for $17,000 and one for $2,000. The larger check takes 4 days to clear after it is deposited;the smaller one takes 6 days. Assume 30 days in a month. a. What is the total float forthe month? b. What is the average daily float? c-1. What are the average dailyreceipts? c-2. What is the weighted average delay?

> now calculate the total float as follows below:..> Total float = 8000

Answered: Your neighbor goes to the post office…

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

Section: Chapter Questions

Problem 1PS

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4. Find the average daily float
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If you are attempting these questions ...then solve for both images
Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $3,000. The larger check takes 2 days to clear after it is deposited; the smaller one takes 4 days. Assume 30 days per month. 1. What is the total float for the month? 2. What is the average daily float? 3a. What is the average daily receipts? 3b. What is the weighted average delay?
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