On an average day wilson amp wilson receive 7800 in checks, Ask an Expert

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On an average day, Wilson & Wilson receive $7,800 in checks from customers. These checks clear the bank in an average of 1.9 days. The applicable daily interest rate is 0.022% (not 2.2%). What is the highest daily fee this firm should pay to completely eliminate its collection float? Assume each month has 30 days.

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