Banks charge billions of dollars per year in overdraft, insufficient funds, or bounced check fees. As a
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Banks charge billions of dollars per year in overdraft, insufficient funds, or "bounced" check fees. As a group project, survey several local financial institutions to determine their fees and overdraft protection charges. Now try to determine the effective interest rate for each bank on a $100 check that causes an account to be overdrawn for 1 week.
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Answer To determine the effective interest rate for each bank on a 100 check that causes an account to be overdrawn for one week we need to consider t...View the full answer
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