a real estate broker earns a salary of & 21,000 plus 2.5% of the value of any real estate sold. Last year the broker earned $ 52,000. What was the total vaule of all real estate sold by the broker.
earnings=21000 + .025(realestate)
.025realestate= earnings-21000
realestate= (earinging-21000)/.025
check my thinking.
steph???
To find the total value of all real estate sold by the broker, we can set up an equation.
Let's denote the total value of real estate sold by "x."
According to the given information, the broker earns a salary of $21,000 plus 2.5% of the value of any real estate sold. Therefore, the earnings for the year can be expressed as:
Earnings = $21,000 + 0.025x
We know that the broker earned $52,000 last year. Therefore, we can set up the equation:
$52,000 = $21,000 + 0.025x
To solve for x (the total value of real estate sold), we can subtract $21,000 from both sides of the equation:
$52,000 - $21,000 = 0.025x
$31,000 = 0.025x
Next, we divide both sides of the equation by 0.025 to isolate x:
$31,000 ÷ 0.025 = x
x ≈ $1,240,000
Therefore, the total value of all real estate sold by the broker was approximately $1,240,000.