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So this is really stumping me, and I think it should just be a linear equation.

Suppose I am charging my client $1000 for a good or service. The client wants to charge this to their credit card. I use Square as my payment processor, and they take a 2.75% cut of the transaction.

This cut is $27.50 for a $1000 sale, so the settlement ends up being only $972.50. Suppose I want the customer to pay the $27.50 fee, but they also want that fee charged to their card.

Well, if I charge $1027.50, Square will take a 2.75% cut of that amount, so their cut will be $28.26, and my settlement would be $999.24.

It's closer to $1000, but not exactly $1000.

I determined on a spreadsheet through trial and error that I'd need to charge $1028.28 to offset the processing fee and get my desired exact settlement.

I've been wracking my brains to think of a simple algebraic equation. It seems like it should just be a single variable, but maybe not?

Aaron
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Welcome to Stack Overflow. Not sure if it belongs on SO (not a programming question), but this is what my arithmetic teacher would say: You charge X dollars. You want to get $1000 after fees. Fees are 2.75%; so you get 97.25%. Therefore X * .9725 = 1000. X = $1,028.28

Felix
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