As per linear equation, the average daily balance on the given credit calendar is $716.17.
What is a linear equation?
A linear equation is an equation where the highest degree of the variable is one.
Given, the daily balances for the given 30 days are $640, $640, $640, $640, $640, $640, $640, $640, $765, $765, $765, $765, $765, $820, $820, $820, $720, $720, $720, $720, $720, $720, $720, $720, $720, $720, $720, $720, $720, $720.
Therefore, the total balance in the given 30 days period is = [$640 × 8 + $765 × 5 + $820 × 3 + $720 × 14] = $21485.
Now, the average daily balance = $[tex]\frac{21485}{30}[/tex] = $716.17
Learn more about a liner equation here: https://brainly.com/question/14089804
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