1.2 KiB
1.2 KiB
| Total | Actual fee | Net | Expected Net | Actual percentage | |
| 103.2 | 3.29 | 99.91 | 100 | (3.29 - .3) / 100 = 0.0299 * 100 = 2.99 | 103.2*0.029 + .3 = 3.2928 |
| 499.29 | 14.78 | 484.51 | 484.93 | (14.78-.3) / 484.93 = 0.0299 * 100 = 2.99 | 499.29*.029+.3 = 14.7794 |
| 550.74 | 16.27 | 534.47 | 534.93 | (16.27 -.3) / 534.93 = 0.0299 * 100 = 2.99 | 550.74*.029+.3=16.2715 |
We are sending a payment of 103.20 to paypal which is what they then use to make the 2.9% + $0.30 fee calculation instead of basing it off of $100. So, the fee ends up being $3.29 instead of $3.20.
We need a better formula:
A * 0.029 + 0.3 = B
A - B = C
A = C + B
C = 100
(C + B)*0.029 + 0.3 = B
0.029C + 0.029B + 0.3 = B
0.029C + 0.3 = B-0.029B
0.029C + 0.3 = 0.971B
B = (0.029C + 0.3)/0.971
0.029*100 + 0.3 = 3.2
3.2/(1-0.029) = 3.2956