How do you calculate a 12 month average balance on a loan?
The answer depends on when interest is calculated, how frequently payments are made, the interest rate being charged and the life time of the loan. There are a number of "interest calculators" available on the Internet that can probably show you the answer - working out the answer from scratch means you'll need to add on the interest for each payment / interest cycle over the 12 months and then you can work out the average. If your using this to calculate your interest then an accurate calculation will depened on how your interest is calculated ie. daily monthly semi-annual, or annual. The simplist answer is take the balance of the loan at the end of each month, add them together and then divide by 12
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Is your balance on a consolidation loan calculated based on outstanding balances or revolving credit?
Answer . \nThe balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
Answer Take the account balance at the end of each day's business. Add all of these balances and divide by the number of days. Average Daily Balance is the practice of cred…iting an account from the day a payment is received or debiting an account on the day a charge is made. It is a daily tracking of what is owed. The lender adds the beginning balance for each day in the billing period to the charges made that day, and then subtracts any payments and/or credits made to the account that day. Adjusted Balance adds charges and subtracts payments made during the billing cycle from the balance at the end of the previous billing cycle. This method is more advantageous to borrowers and credit card holders.
The average monthly balance is calculated by adding the ending monthly balance for the period (usually 12 months) and dividing this by the period. e.g. For a period of 12 mos …with an ending balance at the end of each month of $12 you would have 12+12+12+12+12+12+12+12+12+12+12+12=144 and 144/12= $12. Therefore the average balance over the period is then $12. Hopes this helps. It is the sum of the end of day balance in the account for each day in the quarter, divided by the number of days in the quarter. http://www.hdfcbank.com/personal/accounts/aqb_pop_up.htm#3 The question did not indicate the period. It is the sum of the end of every day balance in the account divided by the period for which calculations are made. To amplify the sum of daily balances will be divided by number of days, if you need average daily balance, and by months in case you need monthly average etc.
add all of the balances together and then divide that number by the amount of balances that you added
The average weight of a 12 month old child is three times the birth weight of that child. At 6 months they should be double their birth weight!
Answer . The definition is: the daily ledger balances less uncollected checks divided by the number of days in a period.
For charge cards you would:. Divide the balence owed at the end of each day by the number of days in the time period and then apply the interest rate to that.
It is calculated by averaging the balance after each day. This isthen averaged with the closing balance after each month.
It will be different from final maturity, in case this is an amortising loan. In essence, you should be looking at this particular term loan as a series of shorter term loans …with different final maturities. So to calculate the average life, you should calculate the average of these multiple maturities weighted by the debt sums (aka debt amortisation sums). - - - - - Say if you have borrowed Â£100 with semi-annual amortisation over a period of 10 years, Â£5 is due in 6 months, another Â£5 in 1 year... another Â£5 in 9.5 years and the final Â£5 in 10 years. In Excel use SUMPRODUCT function to multiply an array of maturities (0.5,1,...,9.5,10.0) by an array of debt sums (Â£5,Â£5,...,Â£5,Â£5). You'll then divide the result over the total amount (Â£100). The result should be 5.25 years. This is a reflection of the fact that your liability decreases over time.
Monthly average balance is the sum of daily balances in a month divided by the number of days in that month.
Wait, let me see. *Scouter breaks* Aaah, it's over 9000!
Loans here means the loans given to other companies/subsidiaries. The company will receive an interest on these loans and hence is an asset. Advances means any payments to st…aff as an advance.
Log the times for each employee. Calculate the number of minutes. Add them together. Divide by the number of employees. If there are a lot of employees you could take a samp…le but in that case you may wish to consider stratification by job category.
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it is the sum of the daily balance divided by the number of days in the billing cycle