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Home Q & A Board Science-Related Homework Help Mathematics
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gewusel gewusel
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6 years ago
The following information is shown in your investment account for last year. The balance on January 1 was $6200.00. A withdrawal of $880.00 was made on March 1. A deposit of $1600.00 was made on May 1 and another deposit of $320.00 was made on September 1. What was the average monthly balance for the year in your account?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
Date   Balance   Months   Weighted value
January   1   6200   2   12 400
March   1   5320   2   10 640
May   1   6920   4   27 680
September   1   7240    4   28 960
      Total:   12   79 680
Average monthly balance =   = $6640.00
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