Enter the % cash back of your card and the total purchase amount into the calculator. The calculator will determine the total amount of cash back earned.
Cash Back Formula
The following formula is used to calculate the cash back earned using a given credit card and purchase amount.
C = P * C%/100
- Where C is the total amount cash back
- P is the total purchase amount
- C% is the cash back % earned while using the card.
How to calculate cash back
- First, determine the rate of cash back of the card.
This rate is typically shown as a % of a total purchase amount.
- Next, determine the total purchase amount
Typically this purchase amount is the total purchase including taxes.
- Finally, calculate the cash back amount
Using the formula above, the percentage, and total purchase price, calculate the cash back earned on a purchase.
FAQ
Cash back is a term used in finance to describe a reward earned from using a companies financial device. This is most often through the use of a credit card. The amount of cash back earned it determined when signing the credit card agreement. These can range from anywhere between 1% and 5%.
On some credit cards there is a limit to how much cash back can be earned on a given purchase or given time period. Other times, the cash back is unlimited.
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