Nisa has a credit card on which interest at 17% per annum, compounded daily, is charged on the amount owing.
At the beginning of the month, Nisa owes $500 on her credit card. She makes no other purchases using the credit card, but fifteen days later, she repays $250.
Assuming that interest is charged for the fifteen days, calculate the amount owing on the credit card immediately after the $250 payment is made. (3 marks)