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6.10 Exercise 5

Avg difficulty 2.5

The billing cycle goes from May 1 to May 31. The balance at the start of the billing cycle is $450.21. The list of transactions on the card is below.

Date Activity Amount
1-May Billing Date Balance $450.21
10-May Payment $120.00
15-May Groceries $83.43
26-May Auto Parts $45.12
26-May Restaurant $85.34
30-May Shoes $98.23

Find the average daily balance for the credit card during the month of May.

OpenStax Contemporary Mathematics, 6.10 Credit Cards, exercise 5

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.