Luisa Gomes works for Southeast Appliance Mart. She receives a biweekly salary o
ID: 2382528 • Letter: L
Question
Luisa Gomes works for Southeast Appliance Mart. She receives a biweekly salary of $1,200 for which she must sell $15,000 worth of appliances. She also receives a commission of 3% on net sales above $15,000. What will be Luisa's pay for two weeks when her net appliance sales were $44,000?
$________
JoAnn Andrews has a condominium that she would like to sell and she asks real estate broker Jerry Weekly to sell it. Jerry, co-owner of Counts/Weekly Real Estate, advises JoAnn that she should be able to sell her condominium for $160,000 and the commission rate for selling it will be 5%. To sell her condominium, JoAnn Andrews must also pay some additional fees for inspections, title insurance, and to record the sale. These fees total $3,500 and are added to the 5% commission. What will JoAnn's net proceeds be from the sale of her $160,000 condominium?
$________
Amin Pesah is a stockbroker for an investment firm that pays Amin a 0.5% commission on all the stocks that he buys and sells for his clients. What will be Amin's commission on 800 shares of Apple stock that is selling for $345.25 per share? If required round your final answer to the nearest cent.
$_________
Explanation / Answer
Answer: What will be Luisa's pay for two weeks when her net appliance sales were $44,000?
=(1200/15000)*44000=$3520
Commission =(44000-15000)*3%
=870
Luisa's pay for two weeks when her net appliance sales were $44,000 are ($3520+$870)=$4390
Answer:What will be Amin's commission on 800 shares of Apple stock that is selling for $345.25 per share?
=800 shares*345.25*0.5%=$1381
Amin's commission =$1381
Answer:What will JoAnn's net proceeds be from the sale of her $160,000 condominium?
=(160000*5%)=$8000
So total fees=$3500+$8000
=$11500
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