Question
A bank that provides overdraft protection charges 14 percent for each $100 ( or portion of $100) borrowed when an over drafts occurs. a. What
A bank that provides overdraft protection charges 14 percent for each $100 ( or portion of $100) borrowed when an over drafts occurs.
a. What amount of interest would the customer pay for an overdraft of $480? ( Assume the interest is the full amount borrowed for a whole year.)
b. How much would be saved by using the overdraft protection loan if a customer has five overdraft charges of $45 each during the year ?
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The Changing Geography Of Banking And Finance
Authors: Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro
1st Edition
1441947205, 978-1441947208
