Combine the information in the problem and the chart using the average balance method to solve the problem. The account balance on April 1st is $50.51. On April 15th, a payment of $15.00 is made. What is the average daily balance for the account

$42.51

Explanation:

The daily balance during April 1st to April 14th was $50.51, then from April 15th to April 30th is was 35.51.

average daily balance = [($50.51 x 14 days) + ($35.51 x 16 days)] / 30 days = ($707.14 + $568.16) / 30 days = $42.51

The average daily balance is used to calculate interest charges by adding the debt balance at the end of every day, and then dividing it by the number of days in the month. This method is commonly used by banks that issue credit cards.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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