What is the service fee that a licensee may assess to a customer on a deferred presentment transaction?

For a deferred transaction in the amount of $600, a service fee in the amount of $76 may be charged. This is broken down into:

  1. 15% for the first $100
  2. 14% for the second $100
  3. 13% for the third $100
  4. 12% for the fourth $100
  5. 11% for the fifth $100
  6. 11% for the sixth $100

For a $100 deferred presentment transaction the fee is calculated as $15. For a $250 deferred presentment transaction the fee is calculated as $15+$14+$6.50=$35.50. For a $600 deferred presentment transaction the fee is calculated as $15+$14+$13+$12+$11+$11=$76.