The balance of Chiaki's average balance checking account at the beginning of the last cycle was $100, and the only transaction for the cycle was a check that Chiaki wrote for $20, which cleared exactly halfway through the cycle. On what amount did Chiaki's checking account pay interest last cycle?

Question

Business

Killian Black

27 December, 02:20

The balance of Chiaki's average balance checking account at the beginning of the last cycle was $100, and the only transaction for the cycle was a check that Chiaki wrote for $20, which cleared exactly halfway through the cycle. On what amount did Chiaki's checking account pay interest last cycle?

+1

Answers (2)

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Abdullah · Answer 1

She had $100 for the first half through the cycle.

Chiaki wrote a cheque for $20.

Now she had $80 for the second half through the cycle.

Therefore:

Amount = (1/2) * 100 + (1/2) * 80

Amount = 50 + 40

Amount = $90

Avah Marshall · Answer 2

Avah Marshall 27 December, 05:28

0

The correct answer is $90