What would you like to do?
It is calculated by averaging the balance after each day. This is then averaged with the closing balance after each month.
1 person found this useful
Was this answer useful?
Thanks for the feedback!
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 crediting an a…ccount 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
Most of Brazil receives from 1000 to 1500 mm (39 to 59 in.)of rain per year. However, NE Brazil is semi-arid, hot and dry, with severe droughts except directly along the Atlan…tic coast. The Amazon basin (despite a 3-to-5-month dry season) receives as much as 2000 or even 3000 mm (79 to 118 in.) annually.
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.
The average yearly rainfall in Italy is around 20 inches in the south coast areas. The average rainfall up in the Alps is 80 inches.
The average yearly income for an oncologist in the United States is between $102,154 and $413,932. Income is based upon location and experience. An oncologist is a doctor …that specializes in treating patients with cancer.
24 in. of rain
30 inches per year
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
Monthly average balance is the sum of daily balances in a month divided by the number of days in that month.
U.S senators currently are pair $174,000 per year. The salaries of state senators varies from state to state.
it is the sum of the daily balance divided by the number of days in the billing cycle