Question

Chase wants to earn at least $900 this month in commission. What is the minimum amount he needs to sell in order to earn $900 if he earns a 3.3% commission on everything he sells? Round to the nearest cent

Answer 1

To earn a commission of $900 with a 3.3% rate, Chase must sell at least $27,272.73 worth of goods. This is found by dividing $900 by the commission rate of 3.3%, represented as a decimal (0.033), and rounding to the nearest cent.

Step-by-step explanation:

To calculate the minimum amount Chase needs to sell to earn at least $900 in commission with a 3.3% commission rate, we set up the equation where the commission (C) is equal to the total sales amount (S) multiplied by the commission rate (R), expressed as a decimal. The equation looks like this:

C = S × R

We know that Chase wants to earn at least $900, so we have:

$900 = S × 0.033

To find the sales amount (S), we divide both sides of the equation by the commission rate:

S = $900 / 0.033

After doing the division, we get:

S = $27272.727272...

We're asked to round the value to the nearest cent, so Chase needs to sell at least:

$27,272.73

This is the minimum he needs to sell to earn a commission of $900.