John Smith has a credit card that charges 11% annual interest on the monthly average daily balance for thebilling cycle. The current billing cycle has 30 days. For 15 days his balance was $2,518 14. For 7 days thebalance was $1,518.14. And for 8 days the balance was $1,897.75. Find the average daily balance. Find theamount of interest.The average daily balance is $ The amount of interest is $(Round to the nearest cent as needed.)