AFP
CTP · Question #448
(Topic 5) A merchant closes its day with a total of 100 credit card transactions of an average ticket value of $100. The interchange reimbursement fees are 2% and transaction fees are $0.05. If this…
The correct answer is D. $10,000. See the full explanation below for the reasoning.
Question
- (Topic 5)
A merchant closes its day with a total of 100 credit card transactions of an average ticket value of $100. The interchange reimbursement fees are 2% and transaction fees are $0.05. If this merchant receives gross settlement, what would be the value of deposit to the account for that day?
Options
- A$9,795
- B$9,800
- C$9,995
- D$10,000
How the community answered
(36 responses)- A17% (6)
- B6% (2)
- C6% (2)
- D72% (26)
Community Discussion
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