On an Average Day,your Firm Receives $11,800 in Checks from Customers.These

question 93

Multiple Choice

On an average day,your firm receives $11,800 in checks from customers.These checks clear the bank in an average of 2.8 days.The applicable daily interest rate is 0.015 percent.What is the highest daily fee your firm should pay to completely eliminate the collection float? Assume each month has 30 days.

• A)$3.72
• B)$4.96
• C)$17.78
• D)$34.18
• E)$37.20

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Definitions:

Kinesics

The study of the way in which certain body movements and gestures serve as a form of non-verbal communication.

Eye Contact

The act of looking directly into another person's eyes, which can communicate attention, interest, or confidence.

Body Positioning

The arrangement and alignment of an individual's body, especially in relation to tasks, activities, or to convey non-verbal signals.

Proxemics

The study of human use of space within the context of communication, examining how physical distance between individuals affects relationships and interaction.