2. On January 1, 2023, Marie opened a savings account paying 1.5% effectivequarterly rate, and placed a PhP500,000 initial deposit. Marie deposits to thisaccount her salary of PhP50,000 she receives every 15th and end of the month.For her bills amounting to PhP25,000 due every 20th of the month, she decidedto enroll her bank account for an auto-debit to pay for the bill.a. Create a table the summarizes the balance of Marie's bank savings accountafter every transaction.DateBalanceb. Find the average daily balance of Marie's bank account for the first quarter of2023.c. Compute for the interest amount she will end at the of the first quarter of2023.

Average Daily Balance in Bank Account The amount on a credit or savings account aggregated over a…

Answered: b. Find the average daily balance of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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b. Find the average daily balance of Marie's bank account for the first quarter of 2023. c. Compute for the interest amount she will end at the of the first quarter of 2023.