Examples of Daily Balance in a sentence
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 use the Daily Balance Method to calculate dividends on your account.
The Average Daily Balance for Cash Advances and Balance Transfers is computed by adding each day’s outstanding balance of Cash Advances and Balance Transfers charged to the Account during the current billing cycle, and dividing the total of such balances by the number of days in the billing cycle.
If the Cash Advance and Balance Transfer portion of the New Balance and the Interest Charge applicable thereto are not paid in full and credited to the Account by the “Payment Due Date” shown on the first monthly billing statement to which the Cash Advance and Balance Transfer is billed, any balance remaining becomes a part of the “Previous Balance” on Cardholder’s next periodic statement and is computed as part of the Average Daily Balance for Purchases.
The Daily Balance Method applies a daily periodic rate to the balance in the account each day.