Sentences with phrase «number of days in the billing cycle»

Most companies have a mathematical formula that looks like this: average daily balance x periodic daily interest rate x number of days in a billing cycle = finance charge.

The mathematical formula used to calculate monthly interest charges is the same for most card companies: average daily balance x periodic daily interest rate x number of days in a billing cycle.

Total Credit Card Interest for Month = Balance x Daily Periodic Rate x Number of Days in Billing Cycle

To calculate how much interest you'll be charged, you'll need to know your average daily balance, the number of days in your billing cycle and your APR..

You can calculate the finance charges for the month by multiplying the daily interest rate times the number of days in the billing cycle times the balance.

At the end of the billing cycle, the average daily balances are totaled and divided by the number of days in the billing cycle.

Then we add up all the daily balances for the billing cycle and divide by the number of days in the billing cycle.

For determining the DPR, the card issuer divides the APR by 365 (days in a year), with that number multiplied by your average daily account balance and the number of days in your billing cycle.

Take the average the balance on each day of the billing period multiply by the daily rate and then by the number of days in the billing cycle.

In order to calculate the expected daily cost of APR or interest, you take your balance, multiply it by your APR or interest rate, divide by 365, and multiply it by the number of days in your billing cycle.

To calculate the periodic interest for the month of August, take the average daily balance × the number of days in the billing cycle × the periodic interest rate.

Your average daily balance is $ 987.10, which is calculated by adding up the balance for each day and dividing by the number of days in the billing cycle.

That figure is then multiplied by the number of days in the billing cycle.

The number of days in a billing cycle is the simplest term.

Average daily balance, the most common, is calculated by adding up your balance at the end of each day, then dividing the sum total by the number of days in the billing cycle.

Multiply the periodic rate (Step 2) by the average daily balance (Step 3) and the number of days in your billing cycle.

The average daily balance is $ 374, and the number of days in the billing cycle is 25.

In order to find the sum, you multiply the mean outstanding balance on your bill at the end of each day by the Daily Periodic Rate (DPR) and the number of days in your billing cycle.

To calculate the interest for the 25 - day period, we multiply the average daily balance by the daily periodic rate and the number of days in the billing cycle.

To figure out your average daily balance, the bank will add up the amount you owe for each day of your billing cycle and divide that number by the number of days in the billing cycle (see billing cycle).

This balance is figured for Purchases, for Balance Transfers, and for Cash Advances, separately, by adding the outstanding balance (including current transactions and deducting payments, credits, unpaid interest charges, and unpaid fees) for each day in the billing cycle, and then dividing by the number of days in the billing cycle.

The interest on your purchases, cash advances, and balance transfers is calculated using the Daily Periodic Rate and the number of days in the billing cycle.

It's calculated this way: average daily balance ($ 1,000 / 30 = $ 33.33) x periodic daily interest rate (15/365 =.041) x number of days in a billing cycle (30).

The average daily balance is the sum of all your purchases in a billing cycle, divided by the number of days in that billing cycle.

Depending on the card, the number of days in a billing cycle can vary from 20 to as many as 45 days, but one - month cycles (30 days) are the norm.

We then add all of the daily balances of purchases for the billing cycle together and divide the total by the number of days in the billing cycle.

Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle.

We then divide the total by the number of days in the Billing Cycle.

Then, we multiply that amount for each category by the number of days in the Billing Cycle.

How interest is calculated: The interest is generally calculated by dividing the APR by 365 or 360 to get a «daily periodic rate» and then either applying that rate to the balance at the end of each day, or multiplying the rate by the number of days in the billing cycle and the average daily account balance during the billing cycle.