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?

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?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

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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