Sentences with phrase «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
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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.