What is ARC's processing fee for a TASF transaction of $54.00?

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Multiple Choice

What is ARC's processing fee for a TASF transaction of $54.00?

Explanation:
ARC charges a processing fee on a TASF as a percentage of the transaction amount. The standard rate is 3.5%. For a $54.00 TASF, the fee is 0.035 × 54.00 = 1.89. So the correct fee is $1.89. The other amounts would correspond to different percentage rates (e.g., $5.40 is 10% of $54, $0.54 is 1%), which aren’t the ARC TASF processing rate.

ARC charges a processing fee on a TASF as a percentage of the transaction amount. The standard rate is 3.5%. For a $54.00 TASF, the fee is 0.035 × 54.00 = 1.89. So the correct fee is $1.89. The other amounts would correspond to different percentage rates (e.g., $5.40 is 10% of $54, $0.54 is 1%), which aren’t the ARC TASF processing rate.

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