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How do you calculate a 12 month average balance on a amortizing loan?
To calculate a 12-month average balance on an amortizing loan, first determine the balance at the end of each month for the past 12 months. Then, sum these monthly balances and divide by 12 to find the average. This method accounts for the declining balance of the loan as payments are made. Ensure to adjust for any additional payments or changes in the loan terms during the period for accuracy.
What is The difference between total payments and total charges to an account is called?
The difference between total payments and total charges to an account is called the account balance. If total payments exceed total charges, the balance will be a credit, indicating a surplus. Conversely, if total charges exceed total payments, the balance will be a debit, reflecting an outstanding amount owed. This balance is essential for understanding the financial status of the account.
Credit card balance method that subtracts payments and credits in this month from balance at end of last month is?
Adjusted Balance Method
What is the service balance?
The service balance refers to the difference between a country's exports and imports of services over a specific period. It is a component of the broader balance of payments, which includes trade in goods, services, income, and current transfers. A positive service balance indicates that a country is earning more from its services provided to foreign entities than it spends on services received from abroad, while a negative balance shows the opposite. This balance can significantly impact a nation's economic health and exchange rate dynamics.
Difference between balance of trade and balance of payment?
Balance of Trade is the accounting of goods and service imported and exported. Balance of Payments is the accounting of money owed and loaned other nations.
Balance of payments deficit?
A balance of payments deficit means there is an imbalance in the balance of payments of a country where the payments the country makes are more than the payments they received. It means the balance of payments is negative. A balance of payments deficit is,when government expenditure is more than government revenue
Balance of trade?
The difference between the value of imports and exports of a country is the balance of trade. It is a country's largest component of balance of payments.
What is included when calculating a country's balance of payments?
Balance of payments (BoP) accounts are an accounting record of all monetary transactions between a country and the rest of the world. They include payments for the country's exports and imports of goods, services, financial capital, and financial transfers.None of the following is included.
If a country receives more money than it spends it does not have a surplus in a balance of payments.?
It does have a surplus in balance of payments because BOP is calculated by exports minus imports
Total flow of money into a country less the total flow of money out of the country?
Balance of payments
The difference between money coming into a country and money leaving a country is called?
balance of payments
How to calculate the total imports of goods and services?
To calculate the total imports of goods and services, add up the value of all goods and services that a country purchases from other countries. This includes items like machinery, electronics, food, and transportation services. The total imports can be found by looking at a country's balance of trade or balance of payments data.
If a country receives more money than it spends does it have a surplus in a balance of payments?
It does have a surplus in balance of payments because BOP is calculated by exports minus imports
When calculating a country's balance of payments do you use foreign aid?
foreign inflation rates
Does Brazil have a balance of payments surplus or deficit?
It has a balance of payments deficit.
How would you define the balance of payments in international trade?
The balance of payments is an accounting record of the difference between the amount of money that a country receives (known as inpayments) and the amount of money that it pays out (known as outpayments).
How would you describe a positive overall balance of payments?
A positive overall balance of payments means that a country has realized more aggregate inpayments than outpayments over a period (typically one year).
