Your Firm Has Average Daily Receipts of $2,500

question 30

Multiple Choice

Your firm has average daily receipts of $2,500. These receipts are available after 6 days on average. The interest rate that could be earned is .02% (.0002) per day. What is the approximate cost of the float per day?

• A) $50
• B) $30
• C) $2.5
• D) $3.0

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