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

Management Studies

On an average day, Wilson & Wilson receives $7,800 in checks from customers. These checks clear the bank in an average of 1.7 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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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9108965

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