At the end of October, Jane's credit card balance was $1,200. On November 16, she made $500 of purchases. On November 26, she paid off $800 of balance. What was her average end of day balance during the month of November?

Average day end balance using weighted average = $1,316.667

Average day end balance using simple average = $1,050

Step-by-step explanation:

Provided opening balance = $1,200

During the month addition in such balance = $500

New balance as on 16 November = $1,200 + $500 = $1,700

Further by the end of month of November balance after payment = $1,700 - $800

= $900

Thus, opening balance = $1,200

Closing = $900

Simple average =

Day end balance = $1,050

For this weighted average can be done

First 15 days balance = $1,200 as no transaction was done.

From 16  to 25 November balance increased by $500 = $1,700 for 10 days

Remaining days = 5 days = $1,700 - $800 paid = $900

Using weighted average we have

Day end balance = $1,316.667

y= 2x+7

changed to y= 5x +7

as slope is increased from 2 to 5

therefore it would be less steeper

so, option d) is correct