A mail-order firm processes 5,100 checks per month. Of these, 60 percent are for $41 and 40 percent are for $73. The $41 checks are delayed two days on average; the $73 checks are delayed three days on average. Assume 30 days per month.

a. What is the average daily collection float? How do you interpret your answer
b. What is the weighted average delay? Use the result to calculate the average daily float.
c. How much should the firm be willing to pay to eliminate the float?
d. If the interest rate is 7 percent per year, calculate the daily cost of the float.
e. How much should the firm be willing to pay to reduce the weighted average float to 1.5 days?

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

If a team of three workers, each making the u.s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.

Marta communications, inc. has provided incomplete financial statements for the month ended march 31. the controller has asked you to calculate the missing amounts in the incomplete financial statements. use the information included in the excel simulation and the excel functions described below to complete the task