[Coco] David Keil's Emulator

[John R. Hogerhuis]

On Tue, 2004-08-24 at 16:19, Allen Huffman wrote:
> On Aug 24, 2004, at 5:47 PM, Neil Morrison wrote:
> >
> > Actually if you don't accept credit cards it should be free all round.
> 
> Alas, if only it were so.  It doesn't cost you a thing to send money, 
> but even on a personal account (limited amount of transactions per 
> month) they deduct a small percentage of any money you receive.
> 
> 		A
> 

Actually this isn't the case. Until you take credit cards, it costs
nothing.

Most people leave a balance in their Paypal account. Paypal was
basically an escrow company. They make a lot of their money off all the
interest from people leaving money in their account.

If you do take credit cards and you actually want to charge $x and let
the buyer pay for convenience of using Paypal, you should actually
charge him $y (add tax, shipping before sending it through the
equation):

Let x be the actual price of the goods + shipping cost + tax
Let y be the final price you ask the buyer to send you via Paypal.

Paypal standard rate fees are y * .029 + .30

Then y - x should be equal to the Paypal fee.

y - x = y * .029 + .30

Solving for y gives

y - y *.029 = x + .30
y ( 1 - .029) = x + .30

So,

y = (x + .30) / (.971)

-- John.