AFP
CTP · Question #455
CTP Question #455: Real Exam Question with Answer & Explanation
The correct answer is A. $19,595. See the full explanation below for the reasoning.
Question
- (Topic 5) Merchant XYZ has total credit card sales of $20,000 for one day with an average ticket of $200. The merchant's interchange reimbursement fees are 2% and transactions fees are $0.05. This merchant receives net settlement. Which of the following is the value of the deposit for that day?
Options
- A$19,595
- B$19,600
- C$19,995
- D$20,000
Community Discussion
No community discussion yet for this question.