Question

If your credit card balances are $250 for 8 days, $150 for 8

days, $350 for 6 days, and $500 for 8 days. What is the average
daily balance?

Answer 1

The average daily balance of the credit card balances is $66.67.

Step-by-step explanation:

To find the average daily balance of your credit card balances, you need to add up the balances for each day and then divide by the total number of days. In this case, you have balances of $250 for 8 days, $150 for 8 days, $350 for 6 days, and $500 for 8 days.

So, the average daily balance is calculated as:

1. ($250 * 8) + ($150 * 8) + ($350 * 6) + ($500 * 8) = $2,000
2. $2,000 / (8 + 8 + 6 + 8) = $2,000 / 30

The average daily balance is $66.67.