If Extol's Inc

question 39

Multiple Choice

If Extol's Inc. sells items to a customer who uses a credit card for $800, and there is a credit card fee of 2%, what is the amount of the debit to cash?

• A)$800
• B)$784
• C)$768
• D)$816

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Definitions:

Initial Value

The starting monetary or numerical value of an asset or investment before any gains, losses, or other changes.

Percent Change

A measure that denotes the degree of change over time, calculated by subtracting the original value from the new value, then dividing by the original value and multiplying by 100 to get a percentage.

Percent More

A relative increase from one value to another expressed as a percentage.

Initial Value

The starting value of a financial variable before any changes, such as interest or depreciation, are applied.