Question: The local grocery store expects that customers will use credit
The local grocery store expects that customers will use credit cards to pay for a total of 80,000 sales transactions during the month of April. These transactions are expected to amount to $ 2,000,000 in total sales revenue. The credit card issuers charge the store a transaction fee equal to $ 0.45 per transaction plus 1% of the amount charged. When budgeting for operating expenses in April, how much should the store expect to incur for credit card transaction fees?
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