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A bank that provides overdraft protection charges 1 1 percent for each $ 1 0 0 ( or portion of $ 1 0 0 )

A bank that provides overdraft protection charges 11 percent for each $100(or portion of $100) borrowed when an overdraft occurs.
a. What amount of interest would the customer pay for a $300 overdraft? (Assume the interest is for the full amount borrowed for a
whole year.)
b. How much would be saved by using the overdraft protection loan if a customer has three overdraft charges of $30 each during the
year?
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