document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1135816>Question 1135816</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose the charge account of Strong's Mailing Service at the local supply store had a​ 1.8% interest rate per month on the average daily balance. Find the average daily balance if​ Strong's had an unpaid balance on March 1 of ​$129.70 a payment of ​$30 posted on March 12​, and a purchase of ​$25.80 posted on March 21. The billing cycle ends on​ March 31<BR>\n" );
document.write( "Type an integer or decimal rounded to the nearest hundredth as​ needed.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #753558 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=753558\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> unpaid balance on march 1 = $129.70<BR>\n" );
document.write( "payment on march 12 = $30.00<BR>\n" );
document.write( "purchase on march 21 = $25.80.\r<BR>\n" );
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document.write( "billing cycle ends march 31.\r<BR>\n" );
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document.write( "total days in billing cycle is from march 1 to march 31 inclusive for a total of 31 days.\r<BR>\n" );
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document.write( "balance of $129.70 from march 1 to march 11 inclusive for a total of 11 days equals total balance of 11 * $129.70 = $1426.7.\r<BR>\n" );
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document.write( "balance of $129.70 - $30.00 = $99.70 from march 12 to march 20 inclusive for a total of 9 days equals a total balance of 9 * $99.70 = $897.30.\r<BR>\n" );
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document.write( "balance of $99.70 + $25.80 = $125.50 from march 21 to march 31 inclusive for a total of 11 days equals a total balance of 11 * $125.50 = $1380.5\r<BR>\n" );
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document.write( "total daily balance for the billing cycle was $1426.7 + $897.30 + $380.5 = $3704.50.\r<BR>\n" );
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document.write( "average daily balance for the billing cycle was $3704.50 / 31 = $119.50.\r<BR>\n" );
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document.write( "here's a reference on average daily balance.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"http://college-cram.com/study/businessmath/consumer-credit-and-banking/average-daily-balance/\" target = \"_blank\">http://college-cram.com/study/businessmath/consumer-credit-and-banking/average-daily-balance/</a.\r<BR>\n" );
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