A real estate agent to sell a large apartment complex according to the following commission schedule: $45,000 plus 25% of the selling price in excess of $900,000. Assuming that the complex will sell at some price between $900,000 and $1,100,000, inclusive, over what range does the agent's commission vary? How does the commission vary as a percent of selling price?
how to solve this?
5 answers
I don't know how to set this up.
the equation.
Info:
45,000 + 0.25
excess 900,000
inclusive 900,000 to 1,100,000
Info:
45,000 + 0.25
excess 900,000
inclusive 900,000 to 1,100,000
commission= 45,000+.25(Price-900,000)
figure commission on price of 900,000, then commission on 1,100,000
then figure percent:
percent=commission/sellingprice x 100%
figure commission on price of 900,000, then commission on 1,100,000
then figure percent:
percent=commission/sellingprice x 100%
so for the "price" I put in 900,000 and then 1,100,000?
Also to find the percent
the commission would be 45,000 and 95,000
but, what would be the selling price ?
the commission would be 45,000 and 95,000
but, what would be the selling price ?
1 answer