question 8 of 10: your accounts payable balance for the last three months was $976, $700, and $850. what was…

question 8 of 10: your accounts payable balance for the last three months was $976, $700, and $850. what was your average balance for the three months?\n\na) $700\nb) $842\nc) $850\nd) $922

question 8 of 10: your accounts payable balance for the last three months was $976, $700, and $850. what was your average balance for the three months?\n\na) $700\nb) $842\nc) $850\nd) $922

Answer

Explanation:

Step1: Recall average formula

The formula for the average of a set of numbers is $\text{Average}=\frac{\text{Sum of numbers}}{\text{Number of numbers}}$.

Step2: Calculate sum of balances

The sum of the accounts - payable balances is $976 + 700+850=2526$.

Step3: Calculate the average

The number of months is 3. So the average is $\frac{2526}{3}=842$.

Answer:

B. $842$