can anyone help me with my math problem?

0 ⤊

can anyone help me with my math problem?

Calculate the daily interest rate on a annual rate of 17.7%.

2007-02-10 01:21:56 · 4 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics

4 answers

Divide 17.7% by 365

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2007-02-10 02:15:04 · answer #1 · answered by SAMUEL D 7 · 0⤊ 0⤋

Solution 32541

divide 17.7% by 365

2007-02-10 09:53:43 · answer #2 · answered by ? 1 · 0⤊ 0⤋

If compounded dayly (1+x)^365 =1,177
Take log of bothsides
365*log(1+x) = log 1.177 and log (1+x) =( log1.177)/365 =1.93908*10^-4
So x = 4.4659*10^-4 =4.4659*10^-2 % = 0.04659 % dayly

2007-02-10 21:02:32 · answer #3 · answered by santmann2002 7 · 0⤊ 0⤋

0.0485 % - simple divide by 365 days......

2007-02-10 09:29:07 · answer #4 · answered by GauravGupta 2 · 0⤊ 0⤋