Sentences with phrase «monthly periodic rate»

The daily periodic rate and the monthly periodic rate are similar but also different enough that larger balances could lead to increased costs or costs savings depending on which one is used.

Other credit cards charge interest monthly by applying the monthly periodic rate to the average daily balance.

Banks arrive at the monthly periodic rate by dividing the APR by 12.

So if the APR is 12 % then the monthly periodic rate will be 1 % every month.

Some banks utilize a daily periodic rate, while others employ a monthly periodic rate.

In order to approximate this, we divide the card APR by 12, to get a monthly periodic rate.

The Finance Charge for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle.

The finance charge for a billing cycle is computed by applying the monthly periodic rate to the average daily balance of credit purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle.

Similarly, the monthly periodic rate is the APR divided by 12.

The real interest applied to it is called the monthly periodic rate, which equals to APR divided by 12.

This section shows how your interest was calculated using your balance, monthly periodic rate, and any cash advance fees.

The daily periodic rate and the monthly periodic rate are similar but also different enough that larger balances could lead to increased costs or...

We modeled credit card payments and interest charges and calculated the interest charges on a month - by - month basis, using a monthly periodic rate to approximate interest charges (APR / 12).

For example, the monthly periodic rate is the cost of credit per month; the daily periodic rate is the cost of credit per day.

Some cards use a monthly periodic rate, which means dividing the APR by 12.