The local grocery store expects that customers will use credit cards to pay for a total of
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Question:
The local grocery store expects that customers will use credit cards to pay for a total of $70,000
sales transactions during the month of April. These transactions are expected to amount to $ 10,00,000
in total sales revenue. The credit card issuers charge the store a transaction fee equal to $ 0.10per transaction plus 1.5%
of the amount charged. When budgeting for operating expenses inApril, how much should the store expect to incur for credit card transactionfees?
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