Tuesday, July 12, 2011

What would the interest rate be on this short-term loan?

I was just charged a $37 overdraft fee on a $0.01 overdraft on my bank account. I was wondering, if this were likened to a short-term loan, what would the interest rate be on this? I deposited enough money to cover the overdraft (the whole $0.01!) plus much more within hours of being charged the overdraft fee, btw.

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