
Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion 
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April 14th, 2012, 09:03 AM  #1 
Newbie Joined: Apr 2012 Posts: 1 Thanks: 0  Newb needs retail help
I need a formula for finding a baseline retail price. I am paying 2.9% + .30 per transaction in fees, how do I calculate to my base price, ie: if I wanted to end up with exactly $85 after processing fees. Thanks for help 
April 14th, 2012, 09:24 AM  #2  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,588 Thanks: 1038  Re: Newb needs retail help Quote:
and you still want to apply "2.9% + .30", then selling price P: P  .029P  .30 = 85 .971P = 85.30 P = 87.8475798...  
April 16th, 2012, 11:55 PM  #3 
Senior Member Joined: Apr 2011 From: USA Posts: 782 Thanks: 1  Re: Newb needs retail help
My guess is that these are credit card processing fees, and you want to net $85 on the sale after the fees are paid. But the math still works regardless. (You calculator doesn't care who is who and what the fees are called.) If this is for real life, was that all the better rates you could get? Unless things have changed drastically since the last time I did this stuff, I'd look around. 

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