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11 January, 23:27

Customer World provides services to customers and allows customers to pay by credit card. On Thursday, a customer purchased a case of flash drives for $65 and used a credit card to pay. The credit card company charges Computer World a transaction fee equal to $0.25 + 2% of the total charge. What is the transaction fee Customer World must pay on this sale?

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  1. 12 January, 00:36
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    The answer is $1.55

    Explanation:

    From the question above, we have the following:

    Money spent by customer = $65

    Transaction fee = $0.25

    Percentage charge = 2% of the total charge

    We calculate the total transaction fee as follows:

    2% of $65 will be = 0.02 X $65

    => $1.3

    Recall that there is a transaction fee = $0.25.

    Therefore, total transaction fee:

    $1.3 + $0.25

    => $1.55
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