Answer:
$1,126.37
Step-by-step Explanation:
Given:
Account balance for:
Month 1 = $1285.12
Month 2 = $961.36
Month 3 = $1132.63
Required:
Average balance of account
SOLUTION:
Average balance of account = sum of account balance for the 3 months ÷ 3
Average balance of account = [tex] \frac{1285.12 + 961.36 + 1132.63}{3} [/tex]
Average balance of account = [tex] \frac{3,379.11}{3} [/tex]
Average balance of account = [tex] 1,126.37 [/tex]
