Rubber Tires Receives Three Checks a Month

question 41

Multiple Choice

Rubber Tires receives three checks a month.The first check averages $842,000 and clears in 1.2 days.The second check averages $318,000 and clears in .7 days.The third check averages $465,000 and clears in 2 days.What is the average daily float? Assume a 30-day month.

• A)$69,600
• B)$72,100
• C)$73,600
• D)$74,500
• E)$68,900

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