Question

A restaurant submits credit card slips that total $1,000 to American Express for payment. Suppose that American Express charges a 4 percent processing fee. The amount the hotel will receive is:

Answer 1

After deducting a 4 percent processing fee from $1,000 in credit card slips, a restaurant will receive $960 from American Express.

Step-by-step explanation:

The student's question regarding the amount a hotel will receive after processing fees from credit card slips is a mathematics problem. A restaurant submits credit card slips that total $1,000 to American Express, and there is a 4 percent processing fee to account for. The calculation for determining the amount received by the restaurant after the processing fee is subtracted involves finding 4 percent of $1,000 and then subtracting that amount from the initial total.

To calculate 4 percent of $1,000, convert the percentage to a decimal (4% = 0.04) and multiply by the total amount:

$1,000 x 0.04 = $40

Now, subtract the processing fee from the initial total:

$1,000 - $40 = $960

Therefore, the restaurant will receive $960 from American Express after the processing fee is deducted.