Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.
Sagot :
Answer:
The amount of interest a customer would pay for a $188 overdraft is $20.80.
Explanation:
Amount of interest on $100 = Overdraft protection rate *$100 = 12% * $100 = $12
Total overdraft = $188
Excess over $100 = Total overdraft - $100 = $188 - $100 = $88
Excess over $100 as a portion of $100 = 88 portion of 100 = (88 / 100) * 100 = $8.8 (Note: This has to be stated in dollar not in percentage.)
Total interest amount = Amount of interest on $100 + Excess over $100 as a portion of $100 = $12 + $8.80 = $20.80
Therefore, the amount of interest a customer would pay for a $188 overdraft is $20.80.
Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.
