Hi all,

Having trouble calculating interest for an assignment

Basically I need to work out what an annual interest rate of 4.5% would be when adding it to total sales for a week (interest has to be added to the total sales at the end of the week, based on a 6 day selling week)

and how would an annual rate of 4.4% be applied at the end of each day when ading to total sales

Is this compound interest?

sorry its a bit early to be asking these questions but any help would be much appreciated!