answersLogoWhite

0


Best Answer

Use this simple formula:

I=Average daily balance times the interest rate, divided by 366 times 30 days in November.

User Avatar

Wiki User

16y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Assuming a 30-day period in November calculate November's interest using the average daily balance method?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the formula to calculate 1000 invested at 8 percent for 5 years?

Assuming interest is compounded annually, 1000*(1.08)5


How can you calculate your CD interest rate?

To calculate CD interest rate, all you have to do is to just multiply the principal amount you have invested in CD with interest rate. If u want to calculate for the monthly interest then divide the resultant with 12.


How do you calculate a life interest?

1.To calculate the fair market fair rent 2. To Calculate Y.P. for life interest 3. To Capitalize the rent using Y.P. for life interest.


How can one calculate their interest?

The formula used to calculate your interest is the principle balance, multiplied by the monthly interest rate. Then you mulitply that by the number of months in which you last paid interest.


Interest on 75 million in a year?

What is the rate percent. Without knowing that , it is impossible to calculate. Assuming the rate percent is 2% Then 75,000,000 at 2% - 1,500,000 That is One and half million.


Could you inform me about I bond rates?

I bond interest rates change about every six months and then a new interest rate is made each May or November. This means that a January bond adjusts each January to precede Novembers rates and each July precedes to May's rates. SO basically if you buy $5000 of I bonds before May, for the first six months you will be getting a 0.74% rate because of the date of the bond is before May first.


The beginning amount used to calculate interest?

it is the principal amount... i.e., the amount for which u have to calculate the interest Enjoy!! Kush


How to calculate interest?

Pmt/principal


How do I Calculate interest on 100000?

To calculate an interest (as money), multiply the capital, times the interest rate (divided by 100, if it is expressed in percent), times the number of periods. The above assumes simple interest; compound interest is a bit more complicated.


Draw a flow chart to calculate simple interest with 10 percent rate if time is greater than 2 yrs otherwise calculate simple interest with 5 percent?

Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.


What is monthly interest if balance is 20500 at interest rate of 6.5 percent?

Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.


What is your monthly interest rate at 9.75 percent on 365.00?

Assuming that the interest rate is 9.75% per year, the answer will depend on how often the interest is compounded.