Examples of Average Daily Balance in a sentence
To get the Average Daily Balance, we take the beginning balance of Your Account each day, add any new cash advances, and subtract any payments, credits, non-accruing fees, and unpaid Interest Charges.
We calculate the Interest Charges for a billing cycle by applying the monthly Periodic Rate to the Average Daily Balance of Your Account.
The interest charged for a balance in a billing period, except for variations caused by rounding, equals: ● Average Daily Balance (ADB) multiplied by ● Daily Periodic Rate (DPR) multiplied by ● number of days the DPR was in effect.
We calculate the Finance Charge by multiplying the Average Daily Balance by the number of days in the billing cycle and then multiplying by the Daily Periodic Rate.
We calculate the Average Daily Balance of Purchases by taking the beginning balance of your account each day that is attributable to Purchases, add any new Purchases as of the date those charges are posted to your account and subtract any additional payments, credits, and unpaid Finance Charges and fees or other charges.