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Charlies writes 135 checks a day for an average amount of

Charlies' writes 135 checks a day for an average amount of $480 each. These checks generally clear the bank in 3 days. In addition, the firm generally receives an average of $159,000 a day in checks that are deposited immediately.

Deposited funds are available in 1.5 days. What is the firm's net float?

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Finance Basics: Charlies writes 135 checks a day for an average amount of

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