What would you like to do?
How is the average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
7 people found this useful
Was this answer useful?
Thanks for the feedback!
Which of these methods has the highest finance charge charging a flat rate fee charging the unpaid balance charging the previous balance charging the average daily balance?
Charging the previous balance
The Climatic Water Balance (CWB) results from the Precipitation (actual) minus Evapotranspiration (potential) Climatic Water Balance is actual Precipitation minus potential …Evapotranspiration CWB=P-PET Exp: PET= 16.09 mm/month P= 46 mm/month CWB=46-16.09 =29.91 mm/month
The minimum sum of cash balances daily. Example - if your checking account requires a minimum daily collected balance of $500 to avoid a monthly maintenance fee, you must keep… your cash balance in your checking account at or above $500.
The average is also called the 'mean' which is the sum of the values divided by the number of values used. It represents the number that all the values in the group would …add up to if they were all the same number. Say you want the average score for 17 students who took your art history exam. You add the 17 individual scores together. Then you divide this sum by 17, the number of scores being averaged. The answer you get is the average, or mean score on the exam. An average may be an integer, a fraction, a mixed number, or a decimal number, and it could be positive, negative, or zero too, if some or all of the items in the group are zero or negative. To calculate the average of a group of numerical items: Add up all the items in the group. Divide the sum by the number of items in the group. The quotient is the average of the group. Another Example: Four students pick apples: one has 3, one has 4, one has 5, and one has 8. To evenly divide the apples, you would find the average (sum/number of values). 3 + 4 + 5 + 8 = 20, divided by 4 students is 20/4 = 5 apples.
Monthly average balance is the sum of daily balances in a month divided by the number of days in that month.
adding up all the data and then dividing the sum by the number of data you had (for example, the average of the numbers 1, 2, and 3 is 1+2+3=6/3=2)
Annual cost of goods sold / 365
add all the outcome / example 15, 64, 21, 7, 10, 3 = 120. Then divide the sum of all the numbers by the number of numbers/ example, take 120 divided by 6=20. So the average nu…mber out of all the numbers above is 20.
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
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 least count of the device must be noted first. the uncertainty of this will be the least count divided by 2. so if its is 0.1 then it will be 0.05
That's because averages give us some idea about general tendencies.
It is calculated by averaging the balance after each day. This is then averaged with the closing balance after each month.
In Stock Market
A stock's average daily volume is calculated by adding the number of shares traded each day over a given period of time and divided by the number of days. For example, if …the total volume over 30 days is 300, the average daily volume would be 10.
Opening cash balance is obtaining by looking at the last closing balance. In businesses this is usually done on the first day of the month. So the opening cash balance on th…e first day of the month will be the same is the closing cash balance of the month before.
The calculation for a daily average is as follows: Add the day's maximum and minimum temperatures, divide by 2 and round to the nearest whole number. The calculation for a 3…1-day month, add the 31 daily highs and 31 daily lows, divide by 62, and round to one decimal place.