PSY2102 Lecture Notes - Due Date, Weighted Arithmetic Mean
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Document Summary
The calculation of interest can be simplified if you understand the concept of. So, get access to the latest ca foundation notes on average. Table of content: how do we define the due date, what does the average due date mean, calculation of average due date. In businesses, lots of financial transactions take place with a single party at different points in time. This involves a large number of receipts and a hefty calculation of interests. In order to ease out this process, the idea of the average due date and account current notes have been introduced. Suppose a person owes several amounts on different dates. And, he wishes to pay the entire amount on a particular date, such that neither the debtor nor the creditor loses or gains anything by way of interest. Then, this date has termed the average due date. This unique system allows one to make a unified payment instead of multiple payments.
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