On Monday, Foster deposits in his account at Guaranty Bank a local check for $500. After 5:00 p.m. on Friday, from these funds, Foster can withdraw no more than

Question

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According to the Expedited Funds Availability Act, local checks must be made available for withdrawal by the second business day after the deposit. Since Foster deposited the check on Monday, the funds should be available by Wednesday. Therefore, by Friday after 5:00 p.m., the full amount of $500 should be available for withdrawal.

On Monday, Foster Deposits in His Account at Guaranty Bank