A real estate agent earns a weekly salary of $200. This week, the agent sold a home for $120,000 and was paid a 5.5% commission. Find the agent’s earnings for the week.
A) $661.10
B) $6,611
C) $6,800
D) $860
what is it
To find the agent's earnings for the week, we need to calculate the commission earned on the home sale and add it to their weekly salary.
First, let's calculate the commission earned on the home sale. The commission is 5.5% of $120,000.
Commission = 5.5% * $120,000
To calculate this, we can multiply the percentage (5.5%) by the amount ($120,000) and convert the percentage to a decimal by dividing it by 100.
Commission = (5.5/100) * $120,000
Commission = $6,600
Now, let's add the commission to the agent's weekly salary of $200.
Earnings = Commission + Weekly Salary
Earnings = $6,600 + $200
Earnings = $6,800
Therefore, the agent's earnings for the week would be $6,800.
The answer is C) $6,800.