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Uzo is walking down the street when she hears a scream.She looks around to see if anyone needs help and notices the other people on the street shrug and keep walking.She decides that the person probably just shouted out of surprise and doesn't actually need help.This is an example of
Collection Float
The time gap between when a check is deposited and when the funds are available in the recipient's account, affecting the cash flow of businesses.
Cheques
Paper instruments that direct banks to pay a specified amount of money from a person's account to the person in whose name the cheque has been issued.
Daily Interest Rate
The interest rate calculated on a daily basis, often used to compute interest on loans or investments over a short period.
Fee
A charge for a service provided or the right to engage in certain activities or transactions.
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