On an Average Day,a Company Writes Cheques Totaling €1,500

question 30

Multiple Choice

On an average day,a company writes cheques totaling €1,500.These cheques take 7 days to clear.The company receives cheques totaling €1,800.These cheques take 4 days to clear.The cost of debt is 9%. If the average daily float is €3,300,what is the net present value per day?

• A)€-0.81
• B)€-79.41
• C)€-282.48
• D)€-297.00
• E)None of the above.

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Definitions:

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