26 lines
850 B
Markdown
26 lines
850 B
Markdown
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|Total|Actual fee|Net|Expected Net|Actual percentage||
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|103.2|3.29|99.91|100|(3.29 - .3) / 100 = 0.0299 * 100 = 2.99|103.2*0.029 + .3 = 3.2928|
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|499.29|14.78|484.51|484.93|(14.78-.3) / 484.93 = 0.0299 * 100 = 2.99|499.29*.029+.3 = 14.7794|
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|550.74|16.27|534.47|534.93|(16.27 -.3) / 534.93 = 0.0299 * 100 = 2.99|550.74*.029+.3=16.2715|
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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.
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We need a better formula:
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A * 0.029 + 0.3 = B
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A - B = C
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A = C + B
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C = 100
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(C + B)*0.029 + 0.3 = B
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0.029C + 0.029B + 0.3 = B
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0.029C + 0.3 = B-0.029B
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0.029C + 0.3 = 0.971B
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B = (0.029C + 0.3)/0.971
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0.029*100 + 0.3 = 3.2
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3.2/(1-0.029) = 3.2956 |