The most common method of calculating the balance on a credit card in order to determine finance charges. The total of the unpaid balances for each day in a billing period is divided by the number of days in the billing period (e.g., $6,000 divided by 30 = $200). The finance charge is then figured on this average balance.
These resources are brought to you by the Cooperative Extension System and your Local Institution
Welcome
eXtension is an interactive learning environment delivering the best, most researched knowledge from the smartest land-grant university minds across America.
Have a question? Try asking one of our Experts
Have a specific question? Try asking one of our Experts
Unlike most other resources on the web, we have experts from Universities around the country ready to answer your questions.
This resource area was created by the: Personal Finance community
Resource Area Feeds
In This Resource Area
- Consumer Credit
- Children and Money
- Consumer Education
- Estate Planning
- Financial Planning Process
- Health Finance
- Home Ownership
- Insurance
- Legal Topics
- Lifestyle Transitions
- Managing Money in Tough Times
- Military Money
- Money Emotions
- Money Management in Times of Disaster
- Retirement Planning
- Saving and Investing
- Talking About Money
Interactive Tools and Resources:
Click Here to Follow Us On Twitter