Float and Weighted Average Delay [LO1] Your neighbor goes to the post office once a month and picks up two checks, one for $17,000 and one for $6,000. The larger check takes four days to clear after...

Please explain each step clearly, and no excel formula should be used for solving this problem

Extracted text: Float and Weighted Average Delay [LO1] Your neighbor goes to the post office once a month and picks up two checks, one for $17,000 and one for $6,000. The larger check takes four days to clear after it is deposited; the smaller one takes five days. 4. a. What is the total float for the month? b. What is the average daily float? c. What are the average daily receipts and weighted average delay?