Asked by Michele

What is the daily interest rate for the following amount: $598 for 186 days at 7.75% APR

Answers

Answered by Steve
assuming a 360-day year, that would be

598 * 0.0775/360 * 186
Answered by Michele
Sorry, I am very stupid here - - what is the * used for?
Answered by Ms. Sue
* means multiply

Answered by Michele
Thank you, Ms. Sue
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