To find Carlos's average daily balance over the last month, we follow these steps:
1. List the Days and Balances:
- Number of Days: 3, 7, 8, 4, 6
- Balances: \[tex]$2460, \$[/tex]1247, \[tex]$1487, \$[/tex]762, \[tex]$1014
2. Calculate the Total Weighted Balance:
- To account for each balance over its respective period, multiply each balance by the corresponding number of days:
- \(3 \times 2460 = 7380\)
- \(7 \times 1247 = 8729\)
- \(8 \times 1487 = 11896\)
- \(4 \times 762 = 3048\)
- \(6 \times 1014 = 6084\)
- Sum these products to get the total weighted balance:
\[
7380 + 8729 + 11896 + 3048 + 6084 = 37137
\]
3. Calculate the Total Number of Days:
- Sum the days:
\[
3 + 7 + 8 + 4 + 6 = 28
\]
4. Calculate the Average Daily Balance:
- Divide the total weighted balance by the total number of days:
\[
\frac{37137}{28} \approx 1326.32
\]
5. Round to the Nearest Penny:
- The result is already rounded to two decimal places as \(1326.32\).
So, Carlos's average daily balance over the last month is \$[/tex]1326.32.
