Determine the approximate cost of the float per day
Question: Your firm has average daily receipts of 2,500 dollar. These receipts are available after six days on average. The interest rate that could be earned is .02 percent [.0002] every day. Determine the approximate cost of the float per day?
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The firm has average daily receipts of 2,500 dollar. Determine the approximate cost of the float per day.
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