Tom Sells Mutual Funds on a Graduated Commission Structure

question 329

Short Answer

Tom sells mutual funds on a graduated commission structure. He receives 3.3% on the first $50,000 of sales in a month, 4.4% on the next $50,000, and 5.5% on all further sales. What are his gross earnings for a month in which he sells $140,000 worth of mutual funds?

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Definitions:

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Marital Instability

The condition in which a marriage is shaky or uncertain, often highlighted by frequent conflicts, lack of commitment, or consideration of separation.

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Something that is found frequently or widely prevalent, shared by, or typical among many.

Western Culture

A term referring to the societies and traditions influenced primarily by European history and values.