Your neighbor goes to the post office once a month and picks up two checks, one for $25,000 and one for $5,000.The larger check takes six days to clear after it is deposited; the smaller one takes three daysWhat is the average daily float? (We assume 1 month has 30 days)$5500$1000$5000$4500

Average daily float is the amount of daily transaction that will occur on the daily basis on an…

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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Similar questions

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Click to see additional instructions Today, you start putting $200 into the bank every other month (bimonthly) for the next 10 years. The account pays annual interest of 3.5%. A month after your last deposit, rounded to the nearest dollar, you will have $ account. [Do not use commas or spaces in your numerical answer.] 14360.34 in the
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Find the equivalent present worth of the cash receipts in the accompanying diagram, where i = 8% compounded annually. In other words, how much do you have to deposit now (with the second deposit in the amount of $1,000 at the end of the first year) so that you will be able to withdraw $600 at the end of the second year through the fourth year , and $ 800 at the end of the fifth year , where the bank pays you 8% annual interest on your balance ?
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A local bank is running the following advertisement in the newspaper: "For just $5,000 we will pay you $300 forever!" The fine print in the ad says that for a $5,000 deposit, the bank will pay $300 every year in perpetuity, starting one year after the deposit is made. What interest rate is the bank advertising (what is the rate of return of this investment)?

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Your neighbor goes to the post office once a month and picks up two checks, one for $25,000 and one for $5,000. The larger check takes six days to clear after it is deposited; the smaller one takes three days What is the average daily float? (We assume 1 month has 30 days) $5500 $1000 $5000 $4500