Zak has a guaranteed minimum salary of $3,410 per month, or 12.1% of his total monthly sales (as commission), whichever is higher.
Last month, his total sales were $29,100. What was his gross pay?
Group of answer choices
$3,521.10
$3,410
$6,931.10
$35,211
To calculate Zak's gross pay, we need to determine whether his guaranteed minimum salary or his commission based on his sales is higher.
The guaranteed minimum salary is $3,410.
To calculate his commission, we multiply his total sales ($29,100) by the commission rate (12.1%).
Commission = $29,100 * 0.121 = $3,518.10
Since his commission of $3,518.10 is higher than his guaranteed minimum salary of $3,410, his gross pay would be his commission amount.
Therefore, Zak's gross pay is $3,518.10.
The closest answer choice is $3,521.10.
To calculate Zak's gross pay, we need to determine whether his guaranteed minimum salary or commission is higher.
First, we calculate his commission: commission = total sales * commission rate
commission = $29,100 * 12.1% = $3,519.10
Next, we compare the commission to his guaranteed minimum salary:
If commission is higher than the guaranteed minimum, then Zak's gross pay is the commission. Otherwise, it is his guaranteed minimum salary.
In this case, the commission ($3,519.10) is higher than the guaranteed minimum ($3,410), so his gross pay is $3,519.10.
Therefore, the correct answer is $3,519.10.
To find Zak's gross pay, we need to compare his guaranteed minimum salary with his commission based on his total sales and choose the higher amount.
First, let's calculate his commission based on his total sales:
Commission = 12.1% of total sales
Commission = 12.1/100 * $29,100
Next, let's calculate his guaranteed minimum salary:
Guaranteed Minimum Salary = $3,410
Now, let's compare his commission with the guaranteed minimum salary:
If Commission is higher than the Guaranteed Minimum Salary, then the gross pay is the Commission. Otherwise, the gross pay is the Guaranteed Minimum Salary.
Now, to compare the two amounts and find the gross pay:
Commission = 12.1/100 * $29,100 = $3,524.10
Guaranteed Minimum Salary = $3,410
Since the Commission ($3,524.10) is higher than the Guaranteed Minimum Salary ($3,410), the gross pay is $3,524.10.
Therefore, the correct answer is $3,521.10.