Question: Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The

Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The annual interest rate is 18%.

(Round to the nearest cent.)

July 31

Balance

$420

August 4

Charge

$86

August 11

Payment

$350

August 18

Charge

$171

August 22

Charge

$35

The average daily balance for the month of August is .?

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