For investors who trade on margin accounts, the average balance may be used to determine margin requirements, or any margin calls that the brokerage makes. 13th century, in the meaning defined at sense 6, 1588, in the meaning defined at transitive sense 2a(1), Middle English, from Anglo-French, from Vulgar Latin *bilancia, from Late Latin bilanc-, bilanx having two scalepans, from Latin bi- + lanc-, lanx plate. a wheel that oscillates against the tension of a hairspring to regulate the beats of a watch or clock. Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020, Collins English Dictionary - Complete & Unabridged 2012 Digital Edition “Epidemic” vs. “Pandemic” vs. “Endemic”: What Do These Terms Mean? One side of an equation must balance the other.
The balance of the blame is on your side. As they clasped warmly upon his, Average Jones' reason lost its balance. to weigh in a balance. He carried what he could and left the balance for his brother to bring. an instrument for determining weight, typically by the equilibrium of a bar with a fulcrum at the center, from each end of which is suspended a scale or pan, one holding an object of known weight, and the other holding the object to be weighed. By raising the flaps on one side and lowering them on the other the balance was well preserved. Average daily balance is most commonly used by credit card companies to calculate monthly finance charges. To find your average daily credit card balance, add the total balance due at the end of each day in a given period of time, and then divide the sum by the number of calendar days in that period. Can you spell these 10 commonly misspelled words? The offers that appear in this table are from partnerships from which Investopedia receives compensation. The interest rate on the credit card is then multiplied by your average daily balance. These factors may lead a creditor to deem an applicant a risky borrower. “balance” - a figure representing the difference between credits and debits in an account; the amount of money held in an account. the act of balancing; comparison as to weight, amount, importance, etc. In banking and accounting, the Balance is the amount of money owed, (or due), that remains in a deposit account.
The average daily balance is a common accounting method where credit card interest charges are calculated using the total amount due on a card at the end of each day.
On January 10, you make a $400 purchase. The opposite is true when the total credit exceeds total debits, the … mental steadiness or emotional stability; habit of calm behavior, judgment, etc.
To calculate average daily balance, take the sum of all these ending balances and divide by the number of days in your period. The substance to be weighed is placed in one pan and known weights are placed in the other until the beam returns to the horizontal, an imagined device for assessing events, actions, motives, etc, in relation to each other (esp in the phrases, the act of weighing factors, quantities, etc, against each other, let me have the balance of what you owe me, equality of debit and credit totals in an account, the state of a chemical equation in which the number, kind, electrical charges, etc, of the atoms on opposite sides are equal, to assess or compare the relative weight, importance, etc, of, to compose or arrange so as to create a state of harmony, to bring (a chemical or mathematical equation) into balance, to compute the credit and debit totals of (an account) in order to determine the difference, to equalize the credit and debit totals of (an account) by making certain entries, to settle or adjust (an account) by paying any money due, (of a business account, balance sheet, etc) to have the debit and credit totals equal, to match or counter (one's dancing partner or his or her steps) by moving towards and away from him or her, the constellation Libra, the seventh sign of the zodiac.
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