What is past-due balance method? past-due balance method Definition.

past-due balance method

Definition

A technique for calculating finance charges (such as in a bank account, charge account, or credit card account) in which no interest is charged if the balance is paid off within a certain time period.

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Related Terms

adjusted balance method - More

average daily balance method - More

declining balance method -

double-declining balance depreciation method

previous balance method

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