Asked by Michele

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

10 years ago

Answered by Steve

assuming a 360-day year, that would be

598 * 0.0775/360 * 186

10 years ago

Answered by Michele

Sorry, I am very stupid here - - what is the * used for?

10 years ago

Answered by Ms. Sue

* means multiply

10 years ago

Answered by Michele

Thank you, Ms. Sue

10 years ago

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