On April 1, the unpaid balance in an account was $218. A payment of $30 was made on April 11. On April 21, a purchase was made. The finance charge rate was per month of the average daily balance. Find the new balance at the end of April. Group of answer choices

The question is not complete and the complete question is;

On April 1, the unpaid balance in an account was $218. A payment of $30 was made on April 11. On April 21, a $40 purchase was made. The finance charge rate was 15% per month of the average daily balance. Find the new balance at the end of April.

Answer:

Average daily balance = $211.33

Step-by-step explanation:

From the question, we know the following;

On April 1, the unpaid balance was $218.

On April 11, a payment of $30 was made.

On April 21, a $40 purchase was made.

Now, from april 1st till 10th, the unpaid balance was $218.

Since a $30 deposit was paid on the 11th, it means that from april 11th till 20th, the unpaid balance was $218 - $30 = $188

Also since a $40 purchase was made on April 21st, it means that from april 21st till 30th, the unpaid balance was $188 + $40 = 228

Now, since we want to find the average daily balance for the month, let's find the total daily balance and divide by the number of days in the month.

Total balance was:

10 days from april 1st till 10th = 10 x $218 = $2180.

10 days from april 11th till 20th = 10 x $188 = $1880.

10 days from april 21st till 30th = 10 x 228 = $2280.

Adding up, the total = $2180 + $1880 + $2280 = $6340

Now the average daily balance for the month which has 30 days = $6340/30 = $211.33