Assume a 31-day month to calculate your average daily balance for your credit card bill.Your daily balance for the first 10 days was $1,400,for the next 10 days was $1900,and for the last 10 days was $2700.What will your average daily balance be at the end of the month?

Question

Quizplus · Accepted Answer

To calculate the average daily balance, we need to first find the total balance for the entire month. 
Total balance = (10 days x $1,400) + (10 days x $1,900) + (10 days x $2,700) 
Total balance = $14,000 + $19,000 + $27,000 
Total balance = $60,000

Now, we can find the average daily balance by dividing the total balance by the number of days in the month: 
Average daily balance = Total balance / Number of days 
Average daily balance = $60,000 / 31 
Average daily balance = $1,935.48

Therefore, the answer is A) $1935.48

Assume a 31-Day Month to Calculate Your Average Daily Balance