Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a front-end load or...
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Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross commission rate of 5%. Abu is paid on a graduated commission structure. He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month, 40% commission for the next $50 000 worth of mutual funds, and 75% commission on all additional sales in the same month. What is Abu's commission for a month in which he sells $150 000 worth of mutual funds? Select one: A. $3625 B. $5625 C. $2250 D. $4500 E. $2700 Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross commission rate of 5%. Abu is paid on a graduated commission structure. He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month, 40% commission for the next $50 000 worth of mutual funds, and 75% commission on all additional sales in the same month. What is Abu's commission for a month in which he sells $150 000 worth of mutual funds? Select one: A. $3625 B. $5625 C. $2250 D. $4500 E. $2700
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Ques Gross commission Rate Monthly sale sale of 50000 150000 Gross commission C... View the full answer
Related Book For
Thermodynamics An Interactive Approach
ISBN: 978-0130351173
1st edition
Authors: Subrata Bhattacharjee
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