Question

yosef has a credit card with the following balances over a 30 - day billing cycle: $100 for 10 days, then an increase to $300 for the next 10 days after a purchase, and a decrease to $200 for the last 10 days after a payment. what is yosefs average daily balance for this billing cycle? $200 $233.33 $300 $366.67

Explanation:

Step1: Calculate total balance over days

First, find the total balance for each period. For the first 10 days: \(100\times10 = 1000\). For the next 10 days: \(300\times10 = 3000\). For the last 10 days: \(200\times10 = 2000\).

Step2: Sum total balances

Add these totals together: \(1000 + 3000 + 2000 = 6000\).

Step3: Find average daily balance

Divide the total by the number of days (30): \(\frac{6000}{30}=200\)? Wait, no, wait: \(100\times10 = 1000\), \(300\times10 = 3000\), \(200\times10 = 2000\). Sum is \(1000 + 3000 + 2000 = 6000\). Then average is \(6000\div30 = 200\)? Wait, but let me check again. Wait, maybe I made a mistake. Wait, \(100\times10 = 1000\), \(300\times10 = 3000\), \(200\times10 = 2000\). Total is \(1000 + 3000 + 2000 = 6000\). Divide by 30: \(6000\div30 = 200\). So the average daily balance is $200.

Answer:

A. $200