For the month of April, a checking account has a balance of \( \$ 511 \) for 24 days, \( \$ 2400 \) for 2 days, and \( \$ 299 \) for 4 days. What is the account's mean daily balance for April? The account's mean daily balance for April is approximately \( \$ \square \). (Round to two decimal places as needed.)
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To find the mean daily balance for April, we first calculate the total number of days in April, which is 30. Next, we compute the total balance for the account by considering the balance for each period: 1. For 24 days at \( \$511 \): \( 24 \times 511 = 12,264 \) 2. For 2 days at \( \$2400 \): \( 2 \times 2400 = 4,800 \) 3. For 4 days at \( \$299 \): \( 4 \times 299 = 1,196 \) Now, we sum these amounts to get the total balance for the month: \[ 12,264 + 4,800 + 1,196 = 18,260 \] Finally, we divide this total by the number of days in April to find the mean daily balance: \[ \text{Mean daily balance} = \frac{18,260}{30} \approx 608.67 \] Therefore, the account's mean daily balance for April is approximately \( \$608.67 \).