Me Bad At ++
October 2, 2009 9:08 AM Subscribe
Not Homework Filter! Paypal Filter: Paypal charges me 2.9% plus $0.30 for every transaction. Someone needs to pay me X. What is the formula to determine how much they need to send with paypal so I get X and not X - (X * 0.029) - 0.30?
posted by arniec to Work & Money (16 answers total) 6 users marked this as a favorite
This has frustrated me... I do favors for friends and they want to pay with the convenience of Paypal... but I can't figure out the formula to quickly determine how much they need to pay me. I end up spreadsheeting it and plugging in numbers until they match...
Say they owe me $100, I can't say $102.90 (which is 2.9% added to the $100) because 2.9% of $102.90 is higher than 2.9% of $100...
I guess I FAIL at Algebra today...
Bonus points if you show me HOW to calculate this so I'm learning something as well as the formula for how to do it. I mean, I have
X + (X * 0.029) + 0.3 = y
where X is what they owe me and Y is how much they have to pay Paypal so I get paid in full... But then I do all those algebra tricks, divide by X, etc. but haven't gotten it yet