Question

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

Answer 1

assuming a 360-day year, that would be

598 * 0.0775/360 * 186

Answer 2

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

Answer 3

* means multiply

Answer 4

Thank you, Ms. Sue