A property rents for $1,200 per month. The salesperson receives 35% for the firs

Question

A property rents for $1,200 per month. The salesperson receives 35% for the first month's rent and 3.5% of the remainder of the year. The rent increases 4% per year for the next 3 years, and the salesperson receives 4% commission per year. What is the total commission paid to the salesperson? Please show all steps. A property rents for $1,200 per month. The salesperson receives 35% for the first month's rent and 3.5% of the remainder of the year. The rent increases 4% per year for the next 3 years, and the salesperson receives 4% commission per year. What is the total commission paid to the salesperson? Please show all steps. A property rents for $1,200 per month. The salesperson receives 35% for the first month's rent and 3.5% of the remainder of the year. The rent increases 4% per year for the next 3 years, and the salesperson receives 4% commission per year. What is the total commission paid to the salesperson? Please show all steps.

Explanation / Answer

Total Commission paid for the first year = 1200 * 35% + 1200 * 11 * 3.5% = 882
The commsiion for next years
Year 2 = 1200* 12*(1+4%)*4% = 599.04
Year 3 = 1200* 12*(1+4%)2*4% = 623.00
Year 4 = 1200* 12*(1+4%)3*4% =647.92

Total commission = 882 + 599.04 + 623 + 647.92 = 2751.96

Best of Luck. God Bless
Please Rate Well

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.