Many e-commerce businesses use PayPal to perform payment processing for them. For certain transactions, merchants are charged a fee of 2.4% of the selling price of the item plus $0.40. What would PayPal charge an online art store to collect payment on a painting selling for $400?
Obiviously, Keven meant to say:
Fee = 0.024(400) + 0.40
I just wanted to clearify it just in case.