I'm working on a spreadsheet with some currency conversion related formulas. One of them is calculating the total amount transferred after fees are applied. The units are in Bitcoin.
Total sent = (Sum total - 0.00025) - (Sum total * 0.5%)
So, if I am sending 0.123 bitcoin then after fees the total sent is 0.122135
That's the easy part, but I want to calculate it the other way around, that is,
I wish to add a way to calculate how much I must send to compensate for deducted fees.
I thought about it for a bit and played around with some things and came up with this formula, which always gets very close and with rounding would be considered correct.
Sum total = (Total + 0.00025) + ((Total + 0.00025) * 0.5%)
So, if we wish to send 0.122135 compensating for fees then we must send a total of 0.122996925.
Where is the 0.000625 gone? Can I tweak my formula so it is 100% accurate?
Total sent = (Sum total - 0.00025) - (Sum total * 0.5%)
So, if I am sending 0.123 bitcoin then after fees the total sent is 0.122135
That's the easy part, but I want to calculate it the other way around, that is,
I wish to add a way to calculate how much I must send to compensate for deducted fees.
I thought about it for a bit and played around with some things and came up with this formula, which always gets very close and with rounding would be considered correct.
Sum total = (Total + 0.00025) + ((Total + 0.00025) * 0.5%)
So, if we wish to send 0.122135 compensating for fees then we must send a total of 0.122996925.
Where is the 0.000625 gone? Can I tweak my formula so it is 100% accurate?