Select the correct answer.
1 answer:
Answer:
D. $432.84
Step-by-step explanation:
The average daily balance is the weighted sum of the balances. The weight in each case is the number of days the account had that balance.
adb = (7×745.00 +10×585.15 +7×245.20 +7×90.75)/(7+10+7+7)
= 13,418.15/31
= 432.84
Nia's average daily balance was $432.84.
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