"how do you figure out the APR of a daily compound rate?"?

Answer 1

Daily is like this if it is $20.oo and ur interest is 7%
7% of 20 is 1.40
1.40 / by 30 = 0.04666
so day 1 is 20.00
day 2 is 20.04666
then they do this agen 20.046 ur intrest 7%
7% of 20.05 is 1.4032
1.4032 / BY 30 = 0.0467
day 3 is 20.092
and so on

Answer 2

I think it's the APR(nominal?) divided by the # of days in the month. It has been years since I have taken a finance course. I think the actual formula should be on a credit card bill in that very small print.