A real estate agent earns a weekly salary of $200. This week, he sells one home for $120,00 and is paid a commission rate of 5%. Find his total earnings for this week. (7th grade math)
I suspect you mean 120,000
.05(120,000) + 200
Oops. Sorry. Yes. Thank you. I couldn't figure out how to set it up. Thanks again.
To find the real estate agent's total earnings for the week, you need to calculate his commission on the sale of the home and add it to his weekly salary.
First, let's find the commission on the sale of the home. The commission rate is 5%, which means the agent earns 5% of the selling price as commission. In this case, the selling price is $120,000. To find the commission, multiply the selling price by the commission rate expressed as a decimal:
Commission = Selling Price × Commission Rate
Commission = $120,000 × 0.05
Commission = $6,000
The agent's commission on the sale is $6,000.
Now, let's calculate the total earnings for the week by adding the commission to the weekly salary:
Total Earnings = Weekly Salary + Commission
Total Earnings = $200 + $6,000
Total Earnings = $6,200
Therefore, the real estate agent's total earnings for this week are $6,200.