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AFP CTP Exam - Topic 5 Question 20 Discussion

Actual exam question for AFP's CTP exam
Question #: 20
Topic #: 5
[All CTP Questions]

Merchant MNO's sales for the day total $20,000. Fifty percent are credit cards, split between Card Red and Card Blue respectively, at 65% and 35% of the card volume. The average ticket is $50. Fees paid are 2% for Card Red and 2.5% for Card Blue and a fee of $0.05 per transaction. What are the fees that MNO will pay to the issuing banks?

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Suggested Answer: B

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