6
QuizMultiple Choice

Credit and Types of Loans — Test

Question 6 • Financial Math

Yosef has a credit card with the following balances over a 30-day billing cycle: $100 for 10 days, then an increase to $300 for the next 10 days after a purchase, and a decrease to $200 for the last 10 days after a payment. What is Yosef's average daily balance for this billing cycle?

Answer
A
$366.67
B
$233.33
C
$300
D
$200
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