Average Daily Balance

Business / Taxes / Average Daily Balance: The average daily balance method is one of the ways that the finance charge on your credit card may be calculated. The credit card company issuer divides the balance you owe each day by the number of days in your billing cycle and multiplies the result by the interest rate to find the finance charge for each day in the period. If this is the method your creditor uses, the larger the payment you make and the earlier in the cycle you make it, the smaller your finance charge will be.

Other Words for Average

Average Adjective Synonyms: normal, common,ual, customary, general, typical, ordinary, regular
Average Noun Synonyms: mean, norm,ual, standard

Other Words for Balance

Balance Noun Synonyms: scale(s), steelyard
Balance Verb Synonyms: weigh, estimate, ponder, consider, deliberate, assess, compare, evaluate

Other Words for Daily

Daily Noun Synonyms: diurnal, circadian, everyday, quotidian
Daily Adjective Synonyms: ordinary, common, commonplace, everyday, routine, regular

Average Equity

Business / Finance / Average Equity: A customer's average daily balance in a trading account at a brokerage firm. MORE

Adjusted Balance Method

Business / Finance / Adjusted Balance Method: Method of calculating finance charges that uses the account balance remaining after adjusting for all transactions posted during the given billing period as its basis. Related: Average daily balance m MORE

Goals Against Average

Entertainment / Ice Hockey / Goals Against Average: The average number of goals given up per 60-minute game by a goaltender or a team within a given period of time. The average is computed by dividing goals against by minutes played and multiplying the MORE