PayPal Fee Calculator

I was hoping to get some help with a formula for tracking my product costs.

Paypal charges 2.9% + 0.30 per transaction. So you can easily track the amount that will be deducted as follows:

(([product cost]*2.9)+0.30)

But there is a reverse function in Paypal that teels you what to charge per product to receive a specific cost after Paypal fees, so the customer pays these fees rather than the vendor.

So if, I wanted $5.00 for a product, it would cost me $0.45 to use Paypal and I would net $4.55.

If I wanted to actually make $5.00 per tranaction, the PayPal calculator tells me I would have to charge $5.46.

Given the information above, how can I write a formula in Excel to tell me what I need to charge to make a specific amount, rather than having to type the information into the PayPal calculator all the time?

HI

The opposite function should be

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giving the net amount from the gross.

Regards

Jeff

Thanks Jeff,

Can you spell it out for me? I am an idiot...

In my example,

I charge $5.00.
The paypal fees are 0.45 or (($5.00*2.9)-30), so I net $4.55...

Can you show me an example of how I would use your formula to return the $5.00?

Sorry...

It seems as if this works all right.

=($5.00*(102.99%)+0.3)

I am missing something in the percentage, but it comes out to within a few cents.

this is the one I use =0.029*K13+0.299

change K13 to the field of your selling price

EJ. = 0.029 * 31 + 0.299 equal to the fee in this case is . 1.20

I use 0.299 because is exact number.

there are so many PayPal calculators out there. i use them too. use to find out.

Using Algebra
Gross Selling Price - (Gross Selling Price * 2.9% + 0.30) = Net Selling Price
=> Gross Selling Price * (1 - 2.9%) - 0.30 = Net Selling Price
=> Gross Selling Price = (Net Selling Price + 0.30) / (1 - 2.9%)

Oh.. it was an old thread!