Deg ANDREA DRAKE ubmit Assignment Pause Chasect No Time Limit Question 13 of 18

Question

Deg ANDREA DRAKE ubmit Assignment Pause Chasect No Time Limit Question 13 of 18 Step 1 of 1 The following table gives the average monthly balances for one bank customer for May through July. Calculate the weighted average balance for the three-month period. Note that each average monthly balance must be weighted by the number of days in that month. Round to the nearest cent Average Monthly Balances for a Bank Customer (May through July) Month Average Monthly Balance May June July $466.89 37241 227.41 Keypad m Answerhiow to Enter) 1 Poin

Explanation / Answer

Solution

Number of days in May = 31

June = 30

July = 31

Sumproduct = 31*466.89+...+31*227.41 = 32696

average monthly = 32696/92 = 355.39

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