Question
Tom sells mutual funds on a graduated commission structure. He receives 3.1% on the first $50,000 of sales in a month, 4.2% on the next
Tom sells mutual funds on a graduated commission structure. He receives 3.1% on the first $50,000 of sales in a month, 4.2% on the next $50,000, and 5.3% on all further sales. What are his gross earnings for a month in which he sells $140,000 worth of mutual funds?
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
