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PayPal Fee worksheet

Grades 7–8

Solve each problem and show your work. Round answers to 2 decimal places where needed.

1.
Problem 1.
- What do you want to find?: What to ask for to receive a set amount
- Payment type: PayPal Checkout or Venmo: 3.49% + $0.49
- Amount you want to receive: $140
Find: Amount to request
Answer
2.
Problem 2.
- What do you want to find?: What to ask for to receive a set amount
- Payment type: Pay Later options: 4.99% + $0.49
- Amount you want to receive: $120
Find: Amount to request
Answer
3.
Problem 3.
- What do you want to find?: The fee on an amount
- Payment type: Goods and services payment: 2.99%
- Payment amount: $80
Find: PayPal fee
Answer
4.
Problem 4.
- What do you want to find?: The fee on an amount
- Payment type: Pay Later options: 4.99% + $0.49
- Payment amount: $68
Find: PayPal fee
Answer
5.
Problem 5.
- What do you want to find?: What to ask for to receive a set amount
- Payment type: Pay Later options: 4.99% + $0.49
- Amount you want to receive: $90
Find: Amount to request
Answer
6.
Problem 6.
- What do you want to find?: What to ask for to receive a set amount
- Payment type: PayPal Checkout or Venmo: 3.49% + $0.49
- Amount you want to receive: $120
Find: Amount to request
Answer
7.
Problem 7.
- What do you want to find?: The fee on an amount
- Payment type: Pay Later options: 4.99% + $0.49
- Payment amount: $80
Find: PayPal fee
Answer
8.
Problem 8.
- What do you want to find?: The fee on an amount
- Payment type: Pay Later options: 4.99% + $0.49
- Payment amount: $82
Find: PayPal fee
Answer
9.
Problem 9.
- What do you want to find?: What to ask for to receive a set amount
- Payment type: Enter my own rate
- Percentage rate: 4%
- Fixed fee: $0.55
- Amount you want to receive: $140
Find: Amount to request
Answer
10.
Problem 10.
- What do you want to find?: The fee on an amount
- Payment type: PayPal Checkout or Venmo: 3.49% + $0.49
- Payment amount: $120
Find: PayPal fee
Answer

Answer key: PayPal Fee worksheet

1. Amount to request: $145.57
1. The fee is also charged on whatever you add to cover it. So divide by the share you keep, not just add the fee
  $\frac{($140.00 + $0.49)}{(100% - 3.49%)}$ $= $145.57$
2. Check it: the fee on the rounded amount leaves you this much
  $$145.57 - $5.57$ $= $140.00$
3. So this is the lowest whole-cent amount to request
  $$140.00 + $5.57$ $= $145.57$
2. Amount to request: $126.82
1. The fee is also charged on whatever you add to cover it. So divide by the share you keep, not just add the fee
  $\frac{($120.00 + $0.49)}{(100% - 4.99%)}$ $= $126.82$
2. Check it: the fee on the rounded amount leaves you this much
  $$126.82 - $6.82$ $= $120.00$
3. So this is the lowest whole-cent amount to request
  $$120.00 + $6.82$ $= $126.82$
3. PayPal fee: $2.39
1. PayPal takes a percentage of the whole payment
  $$80.00 \times 2.99%$ $= $2.39$
2. The fee is that percentage plus any fixed fee, rounded to the nearest cent
  $$2.39 + $0.00$ $= $2.39$
3. Take the fee off the payment to see what reaches you
  $$80.00 - $2.39$ $= $77.61$
4. PayPal fee: $3.88
1. PayPal takes a percentage of the whole payment
  $$68.00 \times 4.99%$ $= $3.39$
2. The fee is that percentage plus any fixed fee, rounded to the nearest cent
  $$3.39 + $0.49$ $= $3.88$
3. Take the fee off the payment to see what reaches you
  $$68.00 - $3.88$ $= $64.12$
5. Amount to request: $95.24
1. The fee is also charged on whatever you add to cover it. So divide by the share you keep, not just add the fee
  $\frac{($90.00 + $0.49)}{(100% - 4.99%)}$ $= $95.24$
2. Check it: the fee on the rounded amount leaves you this much
  $$95.24 - $5.24$ $= $90.00$
3. So this is the lowest whole-cent amount to request
  $$90.00 + $5.24$ $= $95.24$
6. Amount to request: $124.85
1. The fee is also charged on whatever you add to cover it. So divide by the share you keep, not just add the fee
  $\frac{($120.00 + $0.49)}{(100% - 3.49%)}$ $= $124.85$
2. Check it: the fee on the rounded amount leaves you this much
  $$124.85 - $4.85$ $= $120.00$
3. So this is the lowest whole-cent amount to request
  $$120.00 + $4.85$ $= $124.85$
7. PayPal fee: $4.48
1. PayPal takes a percentage of the whole payment
  $$80.00 \times 4.99%$ $= $3.99$
2. The fee is that percentage plus any fixed fee, rounded to the nearest cent
  $$3.99 + $0.49$ $= $4.48$
3. Take the fee off the payment to see what reaches you
  $$80.00 - $4.48$ $= $75.52$
8. PayPal fee: $4.58
1. PayPal takes a percentage of the whole payment
  $$82.00 \times 4.99%$ $= $4.09$
2. The fee is that percentage plus any fixed fee, rounded to the nearest cent
  $$4.09 + $0.49$ $= $4.58$
3. Take the fee off the payment to see what reaches you
  $$82.00 - $4.58$ $= $77.42$
9. Amount to request: $146.41
1. The fee is also charged on whatever you add to cover it. So divide by the share you keep, not just add the fee
  $\frac{($140.00 + $0.55)}{(100% - 4%)}$ $= $146.41$
2. Check it: the fee on the rounded amount leaves you this much
  $$146.41 - $6.41$ $= $140.00$
3. So this is the lowest whole-cent amount to request
  $$140.00 + $6.41$ $= $146.41$
10. PayPal fee: $4.68
1. PayPal takes a percentage of the whole payment
  $$120.00 \times 3.49%$ $= $4.19$
2. The fee is that percentage plus any fixed fee, rounded to the nearest cent
  $$4.19 + $0.49$ $= $4.68$
3. Take the fee off the payment to see what reaches you
  $$120.00 - $4.68$ $= $115.32$