Step 1 :Define the balance for each day: March 1-4 is \$1040.40, March 5-15 is \$640.40, March 16-19 is \$1057.52, March 20-24 is \$557.52, and March 25-31 is \$916.78.
Step 2 :Calculate the total balance for each period: March 1-4 is \$4161.60, March 5-15 is \$7044.40, March 16-19 is \$4230.08, March 20-24 is \$2787.60, and March 25-31 is \$6417.46.
Step 3 :Calculate the total balance for the month by adding all the total balances for each period, which is \$24641.14.
Step 4 :Calculate the average daily balance by dividing the total balance by the number of days in March, which is 31. The result is \$794.88.
Step 5 :Round the average daily balance to the nearest cent, which is \$794.88.
Step 6 :Final Answer: The average daily balance is \(\boxed{794.88}\).