How do we calculate the fees?

For example:

Loan amount is 10000 cents Duration of the loan is 60 days Daily rate is 0.06 (where 0.024 is interest fees and 0.036 is operating fees)

The formula:

((1+ vat_rate) \* operating_fees) + interest_fees

interest_fees = 10000 \* 59 \* (0.024 / 100) = 141.6 cents

operating_fees (without VAT) = 10000 \* 59 \* (0.036 / 100) = 212.4 cents

For French business, the VAT is 20%

total = (1.2 \* 141.6) + 212.4 = 382.32 cents

For non-French business with a intra-community VAT number, we don't charge the VAT:

141.6 + 212.4 = 354 cents