Assume a 31-Day Month to Calculate Your Average Daily Balance

Multiple Choice

Assume a 31-day month to calculate your average daily balance for your credit card bill. Your daily balance for the first 10 days was $1,400, for the next 10 days was $1900, and for the last 10 days was $2700. What will your average daily balance be at the end of the month?

A) $1935.48
B) $19.35
C) $193.58
D) You cannot use the Average Daily Balance Method on this problem