An agent receives a monthly salary of 1500 plus a 4% commission on every home sold what amount of monthly sales will he earn at least 5000
Solve for x in
1500+0.04x=5000
1500+x=5000
x=5000-1500
x=3500
adding 3500+x u get 5000
so x must be less than or equal to 3500 to get at least 5000
To find the amount of monthly sales the agent needs to earn at least $5000, let's break down the earnings components:
1. Monthly Salary: $1500
2. Commission: 4% on every home sold
Let's assume the agent sells "X" number of homes per month. To calculate the commission earned on home sales, we multiply the number of homes sold by the commission rate of 4%:
Commission = (4/100) * X
To earn at least $5000, the total earnings (including the salary and commission) need to be equal to or greater than $5000. So, we can write the equation:
$1500 + Commission ≥ $5000
Now, let's substitute the commission value into the equation:
$1500 + (4/100) * X ≥ $5000
To solve for X, we need to isolate it on one side of the equation. Let's start by subtracting $1500 from both sides:
(4/100) * X ≥ $5000 - $1500
(4/100) * X ≥ $3500
Next, let's multiply both sides of the equation by 100/4 to eliminate the fraction:
X ≥ ($3500) * (100/4)
X ≥ $87500
Therefore, the agent needs to earn at least $87500 in monthly sales to make a minimum of $5000 per month.