DEFINITION of Average Collected Balance
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The average collected balance is the average balance of collected funds (less any uncleared or uncollected deposits) in a bank account over a specified period, usually one month. The average collected balance is calculated by summing all of the daily collected balances in the period and dividing by the number of days in the period.
BREAKING DOWN Average Collected Balance
The average collected balance is used to determine the amount of interest to be paid on a monthly balance, since uncollected funds do not earn interest. For most individuals, the difference between the average daily balance and average collected balance will be small, but for businesses or enterprises it may be very large.
Average Collected Balance and Types of Customer Accounts
Commercial banks pay interest on customer deposits. Many forms of deposit accounts exist, including checking accounts, savings accounts, call deposit accounts, money market accounts and certificates of deposit (CDs).
Checking accounts allow both withdrawals and deposits (and are also called demand accounts or transactional accounts). Savings accounts are also deposit accounts that provide a modest interest rate. Banks or financial institutions may limit the number of withdrawals a customer may make from a savings account each month; the institution may also charge fees if the customer does not maintain a certain average monthly balance. In most cases, banks do not provide checks with savings accounts.
Call deposit accounts offer the advantages of both a savings and a checking account, while money market accounts may be types of mutual funds, which offer baskets of money market instruments. CDs are a savings certificate with a fixed maturity date and specified fixed interest rate.
Average Collected Balance and Interest Income
Interest due to the owners of certain deposit accounts are liabilities to the bank. The average collected balance represents the full amount for which the bank must pay interest (excluding any uncollected funds).
Commercial banks earn revenue, based on the amount they hold in collected balances. With these funds they are able to provide loans, including mortgages, auto loans, business loans and personal loans. (A commercial bank may specialize in just one or a few types of loans.) The interest rate the bank pays on these funds that they borrow is less than the rate charged on money they lend. This spread equals the net interest income, or profit, that a commercial bank earns.
The book of Proverbs contains 31 chapters of wise sayings,mostly from King Solomon.
The wise sayings of Solomon were written down and are called?
Song of Solomon or Song of Songs- which is a book in the bible. Read More
Which book in the Old Testament has a lot of wise sayings?
Proverbs, although wise sayings can be found in every book of the Old Testament. Read More
What book of wise sayings in the bible?
Proverbs. It could be argued that all of the books have wise sayings. Isaiah, for example, is quite often quoted, with very few people knowing that they are using an Old Testament prophet for back up. Read More
Why were Solomon's sayings written into a book of proverbs?
What was the book in which the wise sayings of Solomon were written down?
What kind of book in the Bible tells how a wise person lives?
Every book in The Bible can show us how to truly live life. However, the book of Proverbs has been considered the most wise book in The Bible. Read More
What does the term 'dark sayings' mean in the Book of Proverbs?
Proverbs 1:6: 'To understand a proverb, and the interpretation; the words of the wise, and their dark sayings.' The phrase refers to the obscure sayings of the wise, probably their oracles. Read More
What wise sayings was Solomon known for?
The entire Book of Proverbs, as well as the Song of Songs and Ecclesiastes. Read More
What is the Hebrew word for Proverbs?
Proverbs as in the book of the Bible: meesh-LAY (משלי) Proverbs as in wise sayings: peet-gah-MEEM (פיתגמים (The Hebrew name for the book of Proverbs does not actually mean 'proverbs'. it means 'examples of' or 'rules of') Read More
Why are proverbs said to be meaningful?
They are great words of wisdom. AND The book of proverbs (in the Bible)is a collection of wise sayings. In them we find Godly insights for living. They are organized in variety of ways and use several literary styles. They cover a wide range of topics from youth to marriage to business to wisdom and Godliness.The word proverb comes from the Hebrew word that means to rule or govern so these sayings offer advise for… Read More
What is the main topic of proverbs?
Proverbs means wise sayings that what most of it is. Wise sayings that people should do to be successful in life and to be in God's favor. Read More
Who wrote the wise sayings in the book of proverbs?
A: The Book of Proverbs is commonly attributed to King Solomon, but only on the basis that there was no other evident author and wisdom books tended to be attributed to the purported wisest of kings. Some of the sayings in the Book of Proverbs can be traced back to early Egyptian wisdom sayings. Others are attributed to Lady Wisdom, a post-Exilic Jewish spirit/goddess. Undoubtedly there were many sources and authors for the sayings in… Read More
What were the wise sayings of Solomon called?
What are wise sayings by Puritans?
What is the name for wise sayings or proverbs?
How does the wisdom of proverbs differ from the book of job?
'Proverbs' is a bible book compiled by King Solomon and is is a collection of many wise sayings and axioms. -see Proverbs 1:1-6. 'Job', on the other hand, is the life story of the godly man Job. Whilst it also contains some wise counsel, and reveals many things about god, its style and purposes are: # to provide an example of godliness, and to encourage the doing of god's will, especially when suffering under pressure… Read More
Wise sayings that are used to teach are called?
What were wise sayings written by Solomon called?
What is the Definition Holy Bible?
By telling you about God and the right way to live and to be obedient and a child of God. from - Shakeria Figgs age14 Wildwood middle school The English word 'Bible' is taken from a similar word used in many languages and means 'book'. 'Holy' means sacred, revered, worthy of worship. The Holy Bible is a collection of ancient texts, believed by most Christiians to be ordained by God, our Creator. It contains the… Read More
How are Jesus' sayings different from Confucius'?
Jesus is God so he speaks and has spoken as God. But Confucius was a man so his sayings, though wise, are a man's sayings. Read More
What are Bilbo's wise sayings?
What does pearls of wisdom mean?
Pearls of wisdom just means wise sayings. Read More
What is the difference between the bible books of Sirach and Wisdom?
They are both both in the Wisdom Genre, and often placed in a separate section in some Bibles called 'The Apocrypha' Wisdom is otherwise known as the Wisdom of Solomon, and is a tight treatise against Idolatry as opposed to the worship of the God of Israel. Sirach, is a larger book, and doesn't have a coherent structure, but is a collections of wise sayings. It feels like Proverbs on steroids. The prologue of the… Read More
What are the names of 3 wise men in the Bible?
Caspar, Melchior, and Balthasar are three wise men in the Bible. Read More
What has the author Percy Lund written?
Wise sayings using alliteration?
Why is Confucius so great?
Confucius (or Kung Fu Tse in a less anglicized form of the name) composed many wise sayings, which have been collected in a book called the I Ching, and which form the basis of the religion of Confucianism. Read More
What language does subhashita come from?
It is from Sanskrit, and means 'well spoken.' It is the name of a genre of wise sayings. Read More
What is one of Benjamin Franklin's sayings?
One of his sayings is 'A penny saved is a penny earned' Another is 'Early to bed, early to rise makes a man healthy wealthy and wise. Read More
What is the largest wisdom book?
Do you want real truth and wisdom? Then read the Bible - the most wise and true book ever made. It was God inspired and includes the begining of us, and the foreshadowing of the end. :) Read More
What are the release dates for The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Future 5-2?
The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Future 5-2 was released on: USA: 9 September 2012 Read More
What are the release dates for The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Faith 4-20?
The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Faith 4-20 was released on: USA: 17 June 2012 Read More
What are the release dates for The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Failure 4-22?
The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Failure 4-22 was released on: USA: 8 July 2012 Read More
What are the release dates for The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Fools 4-26?
The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Fools 4-26 was released on: USA: 26 August 2012 Read More
What are the release dates for The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Family 4-24?
The Restoration Road with Mitch Kruse - 2010 30 Sayings of the Wise Family 4-24 was released on: USA: 22 July 2012 Read More
According to the bible how many wise men are there?
What are three wise men from the Bible?
Though the bible does not give names to the wise men, later traditions call them Balthazar, Caspar, and Melchior. Read More
How many times is 'wise' used in the Bible?
The word 'wise' is in the King James Version of the Bible 247 times. It is in 237 verses. Please see the related link below. Read More
What was the name for wise sayings of Solomon?
Mishlei (the Book of Proverbs), which explicitly names Solomon as its author (1:1; and see also 1 Kings 5:12). Concerning theories for non-Solomonic authorship of Proverbs, see these links: http://www.whoreallywrotethebible.com/excerpts/chapter4-1.php http://www.pearlmancta.com/BiblicalcriticswrongRShlomoCohen.htm And see also the wider picture: http://judaism.answers.com/hebrew/does-archaeology-support-the-hebrew-bible Read More
What is the traditional name of one of the three wise men?
There is no name in the bible for the wise men. Read More
Who is the first wise men?
The bible does not mention who was the first wise man to visit Jesus. Read More
What is the theme of the Book of Proverbs?
The Book of Proverbs was written in layers by successive authors, so does not have a single, coherent theme. Some of the oldest material concerns the veneration of Lady Wisdom. Most of the later material consists of sayings considered wise by the ancients, including some proverbs of arguably Egyptian origin. Read More
Why is Proverbs in the Bible?
Proverbs was canonized as one of the Hebrew Bible books by the Men of the Great Assembly in 340 BCE. They recognized its being a Divinely-inspired book. Jeremiah, who wrote the Book of Kings, mentions King Solomon's proverbs in a laudatory context (1 Kings 5:12), as does the Talmud (Eiruvin 21b).See also the Related Link. Link: More about the Hebrew Bible Read More
Are the wise men in the bible really kings?
Which book of the Bible are the Magi mentioned?
The most popular book is Matthew chapter 2 in particular. Magi can be interpreted as 'wise men' or even 'magician' to some extent. The Book of Daniel chapter 2, 4 & 5 use 'wise men' as do other writings. It depends upon the English translation in use which can have up to 34 places in various books. Read More
What book of the Bible uses the word wise the most?
Wise and Wisdom together occur 420 times in the NIV. They occur most frequently in Proverbs by sheer number (113 times), however when factoring factoring the size of the book, they occur most frequently in Ecclesiastes (55 times in a book that 1/3 the length of Proverbs). Source: BibleWorks search. Read More
Is there a book containing a collection of good quotes about life?
There are several books available that have good quotes in them. 'Wise Words and Quotes' and 'The Smartest Words Ever Spoken: 1001 Timeless Quotes' are two examples. Read More
Why should our proverbs be preserved?
Proverbs are wise sayings, many from far back in history. They should be preserved in order to keep the wisdom in them. Read More
Which of wise men brought gold?
The bible does not mention which wise man brought the gold to baby Jesus. Read More
There were this many wise men?
The Bible does not specifiy how many wise men here were; by tradition there were three. Read More