Attempt 2 Iodice FIN610_Module 4 Homework

# Attempt 2 Iodice FIN610_Module 4 Homework - Module Four...

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Module Four Homework Assignment Student's Name: Lisa Iodice Remittances per month in dollars Mail Float \$200,000 3 10,000 6 \$400,000 2 \$5,000 4 \$350,000 3 \$965,000 a. Calculate the total dollar-day float for the month. \$3,855,000 b. Calculate the average dollar-day float. =dollar-day float/ days in month \$128,500.00 c. Calculate the average collection float in days. = dollar-day float / remittances 3.99 The Porcelain Company, Inc. makes five remittances to the bank each month. As the compan utilized. Your accounting department has provided you with the following information: (assu

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d. Calculate the annual cost of float assuming an annual opportunity costs of 6%. =average dollar-day float * opportunity investment rate \$7,710.00
Availability Float Dollar-Day Float 1 \$800,000 2 \$80,000 1 \$1,200,000 1 \$25,000 2 \$1,750,000 \$3,855,000 ny’s Chief Financial Officer, you are conducting a review of the current system being ume each month has 30 day s) Co mplete parts a. through d. below.

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Module Four Homework Assignment a. N(umber of remittances) 2000 13.948630137 F(ace value of remittances) 10000 D(ays to clear) 10 I (opportunity cost) 0.05

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