Based on the amount you borrowed and the amount you repaid, the average balance is $300.
What is the loan average balance?
This can be found by:
= (Loan balance in first period + Loan balance in last period) / 2
As you paid back the loan all at once, the loan balance in the last period must have still been $300.
Average is:
= (300 + 300) / 2
= $300
Find out more on average loan balance at https://brainly.com/question/14089804.
#SPJ12
