Right or Wrong? If you owe $970 in February 2005 and pay $900 so that your account is credited in 10 days, the average daily balance (to the nearest cent) is $\frac { ( \$ 970 \times 10 ) + ( \$ 70 \times 18 ) } { 28 } = \$ 391.43$
A) Right
B) Wrong

Question

Quizplus · Accepted Answer

The average daily balance is calculated by adding the daily balances for the entire month and dividing by the number of days in the month. In this case, the daily balance for the first 10 days is $970, and the daily balance for the remaining 18 days is $70. So, the average daily balance is $\frac { ( \$ 970 \times 10 ) + ( \$ 70 \times 18 ) } { 28 } = \$ 391.43$.

Right or Wrong? If You Owe $970 in February 2005 ($970×10)+($70×18)28=$391.43\frac { ( \$ 970 \times 10 ) + ( \$ 70 \times 18 ) } { 28 } = \$ 391.4328($970×10)+($70×18)​=$391.43

Right or Wrong? If You Owe $970 in February 2005 $\frac { ( \$ 970 \times 10 ) + ( \$ 70 \times 18 ) } { 28 } = \$ 391.43$