Question

A company that accepts credit cards is charged $0.02 a transaction in

Answer 1

this is money, it would technically be $574.20.

But we have to remember that, for your question, you also have a $0.02 Ah, precentages. Gotta love 'em.

Remember that when you want to find how much to take away from something (When you know the percentage that you need to take off), you have to move the decimal two spots to the left, meaning that 21% becomes .21, 4% becomes 0.04, and 112% becomes 1.12. A good way to remember this is by looking at the two dots on the percentage sign, and relating the two dots to the two spots you need to move the decimal by.

Knowing this we can now move on.

To find out how much to take away from something (E.G: 10% of 50 or 54% of 4300), we first need to move the decimal from our percentage. Once we've done that, we're almost ready. Now, we need to multiply w by x to get y and eventually get z (Where w is the number we need to take away from, x is the percentage after we had moved the decimal, and y is the number we need to subtract from w to get z, which is our number after the precentage has been taken out of it.

So,

w * x = y then w - y = z

580 * 0.01 = 5.8 then 580 - 5.8 = 574.2

But since this is money, remember that this can also be expressed as $574.20

BUT WAIT!!!!

We can't stop here, because we are trying to figure out how much gets added onto the transaction, not how much the transaction would be taxed if they were removed y.

Meaning, that the answer is actually 585.82, because 580 * 0.01 = 5.8 then 5.8 + 0.02 = 5.82 then  580 + 5.82 = 585.82 ($0.02 being the charge applied to every transaction.)

So, the answer should be $585.82