Question

for the month of april, a checking account has a balance of $561 for 21 days, $2338 for 4 days, and $203 for 5 days. what is the account’s mean daily balance for april? the account’s mean daily balance for april is approximately $\square. (round to two decimal places as needed.)

Explanation:

Step1: Calculate total balance for each period

For $561 over 21 days: $561×21 = $11781
For $2338 over 4 days: $2338×4 = $9352
For $203 over 5 days: $203×5 = $1015

Step2: Sum the total balances

Total balance = $11781 + $9352 + $1015 = $22148

Step3: Calculate total number of days

Total days = 21 + 4 + 5 = 30 days

Step4: Calculate mean daily balance

Mean daily balance = $\frac{22148}{30}$ ≈ $738.27

Answer:

738.27