A credit card calculates interest using the average daily balance method. The card charges 23.4% annual interest rate on the average daily balance. The following transactions occurred during the March 1 – March 31 billing period.
previous balance:$6310.00
march 5 : $400 credit
march 7 charge: $60.00
march 12 charge : $90.00
march 21 charge: $230.00
march 31 end of billing period

Find the average daily balance for the billing period. Round to the nearest cent.

Question

A credit card calculates interest using the average daily balance method. The card charges 23.4% annual interest rate on the average daily balance. The following transactions occurred during the March 1 – March 31 billing period.
previous balance:$6310.00
march 5 : $400 credit
march 7 charge: $60.00
march 12 charge : $90.00
march 21 charge: $230.00
march 31 end of billing period

Find the average daily balance for the billing period. Round to the nearest cent.