Stan is a real estate salesperson. He receives 60% of the 4.8% commission that the real estate

Question:

Stan is a real estate salesperson. He receives 60% of the 4.8% commission that the real estate agency charges on sales. If his income for the past year was $150,480, what was his dollar volume of sales for the year?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 06:29 AM

See More Questions

Susan Guinta is a real estate salesperson. Smythe Cramer Co. went to an Ohio state court and obtained a garnishment order to attach Guintas personal earnings. The order was served on Russell Realtors...
Classify each of the following assets as ordinary income property, capital asset property, Section 1231 property, or personal use property. If more than one classification is possible, explain the...
A real estate salesperson can lease an automobile for five years at $500 per month payable at the beginning of each month, or purchase it for $28,000. She can obtain a loan at 9.75% compounded...
Oliveras Company had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in accounts receivable at the beginning of the year was $100,000, and the end of the...
Explain how a budget helps achieve effective cash management.
The graph of y = x ln x has one horizontal tangent line. Find an equation for it.
Consider the multiple linear regression model $\mathbf{y}=\mathbf{X} \boldsymbol{\beta}+\boldsymbol{\varepsilon}$. Show that the least-squares estimator can be written as...
The Tire Rack, Americas leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving...
Three Spirit Think it's time for nights out to change? Cheers to that. Introducing a new kind of nightlife beverage crafted from ancient remedy and modern alchemy. Three Spirit's Social Elixir offers...
A Christmas tree seller has a cost function C = 6,860 + (pT + t + 7/12)q + 37/27,000,000q3, where pT = $11.50 is the wholesale price of each tree and t = $2.00 is the shipping price per tree. What is...
The maximum amount an individual can contribute to her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the Regulations of the Income Tax Act. For the year 2010, the...
A stockbroker is paid 45% of the commission her firm charges her clients. If she personally receives $134.55 on an $11,500 transaction, what is the firms commission rate?
Use the information for Rode Inc. given in BE19-13. Assume that it is more likely than not that the entire net operating loss carryforward will not be realized in future years. Prepare all the...
Dial an 0800 customer helpline in the UK and your call may be answered not in Bradford or Birmingham, but quite likely in Bangalore or Bombay. Operating call centres on behalf of Western clients has...
What happens when a companys customers want access to its services 24 hours a day, and they want immediate availability, not a promise of availability tomorrow or sometime in the future? One...
Think of an instance in which you had to transmit bad news to another person (e.g., firing, unwanted transfer). Were you reluctant to share this information (as per the MUM effect)? How did you...
Describe how a business marketer might use search engines to guarantee being found and recalled by potential customers.
Solve Problem P16.7 using the direct summation of global element stiffness matrices. Problem P16.7 For the frame shown in Figure P16.7, write the stiffness matrix in terms of the three degrees of...
The velocity v of a jet of fluid flowing from an opening in the side of a container is proportional to the square root of the depth d of the opening. If the velocity of the jet from an opening at a...
(a) As Section 17.3 discusses, high-frequency sound waves exhibit less diffraction than low-frequency sound waves do. However, even high-frequency sound waves exhibit much more diffraction under...
Simplify each of the following. (n 0.5 ) 8
Calculate dollar amounts accurate to the cent, and percent amounts accurate to the nearest 0.01%. Enrollment in the Business Administration progran1 at a community college in September 2015 was 1200...
Evaluate each of the following expressions for the given values of the variables. In problem, maintain five-figure accuracy. 3d 2 - 4d + 15; for d = 2.5
Image transcription text Introduction: The Smart Parking Management System (SPMS) project aimed to develop an efficient, automated solution for managing parking spaces in urban areas using Arduino...
A. Can we use human capital theory to explain "Age-Discrimination"? If so, how? B. Why do some firms prefer to hire younger workers, especially for entry level positions? C. Why do some firms...
Image transcription text Question 6 Not yet answered Marked out of 1.00 '1" Flag question During a mountain?biking tripr Bill and Barry are discussing the merits of having the springs and shocks used...

Stan is a real estate salesperson. He receives 60% of the 4.8% commission that the real estate

Question:

Step by Step Answer:

Portion of commission retained Ra...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions