Solve the following problems. 1. How much commission will you earn if your sales amounted to P140 950 and you receive a fixed commission rate of 6%? 2. How much commission will you earn if you made the same amount of sales (refer to number 1), but you were given variable or graduated commission as follows: 3% Up to P50 000 P50 001 - Pl100 000 6% P100 001 and above 10% 3. How much will be your total earnings if you receive a fixed salary of P15 000 aside from your commission of 12% on all your sales (refer to number 1)? 4. How much will be your total earnings if you received a fixed salary of P25 000 and a bonus of 8% if you exceed your sales quota of P50 000 (for the total sales, refer to number 1)? 5. How much will be your supervisor's override commission on your sales if she receives 2% (refer to number 1)?

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Retirement Income

Retirement income is the income received by the retiring person after retirement. Income can either be paid every month or paid annually. The retiree would get a guaranteed income until their death. Retirement income payment differs from person to person based on their investment type and payment method. Some are paid on a lump-sum basis and some are paid in a regular series with fixed payment or variable cash flow. Retirement income can be created from retirement savings, investment, salary, bonus, and wages from employment. Every working individual should plan their retirement income according to their income goals for the future. The plan should be made by identifying suitable income sources, estimating future expenses, applying a savings plan, and managing risk and assets. The most common age for retirement is between 60-65 years.