A credit card had a $294 balance on March 5. A purchase of $159 was made on March 12, and a payment of $150 was made on March 28

Question

3 years ago

12

. Find the average daily balance of the billing date is April 5.

1 answer:

tatiyna · Answer 1 · 2022-04-22T17:40:09+03:00

tatiyna3 years ago

8 0

Answer:

$378.39

Step-by-step explanation:

The balance was $294 for 7 days, $453 for 16 days, $303 for 8 days, so the average daily balance is ...

(7(294) +16(453) +8(303))/(7+16+8) = 11730/31 = 378.39

The average daily balance for the billing period was $378.39.