Here's the question you clicked on:
00kirsten
If you received your credit card statement but did not make any payments for 55 days, calculate the daily interest charge for $737.72. The credit card company charges an annual interest of 27.5%.
you keep posting the same question over and over again..... why?
because no one is answering it! :(
lol .... I suppose thats a technique but.... there is no "formal" help here, we just get to the ones we can :)
now.. I dont quite understand the question.... is it asking what the interest is for 55 days?
should we use simple interest or compound interest
im not sure. i think its supposed to look something like this 737.72 x 0.275 x 55/265
sorrry. 737.72 x 0.275 x 55/365
BUT if u do it this way ....charged interest - 55 days the daily interest rate is 27.5 divided by 365 which is 0.0753 55 x 0.0753 = $33.55
so is it $33.55 or $30.57 .. im confused.... and is that even right?? that seems liek alot for a daily interest charge