Say I want to pay someone
$100.00 but the service I use keeps 3% of the payment I make. Meaning they would only receive
$97.00 since they would keep
$3. If I increase my payment to
$103 they would keep $3.09 meaning they would only receive
$99.91. Is there a formula to calculate the exact extra amount I'd need to pay in order to offset the percentage fee?
(I know this is tagged incorrectly but I can't create tags yet and I didn't see any that fit.)