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

$590

August 10

Charge

$89

August 16

Payment

$330

August 23

Charge

$162

August 29

Charge

$11

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

.

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