Final answer:
Alexander made a commission of $884 last week from selling stocks. If this amount is averaged weekly, he would have earned $45,968 in commission for the year 2011.
Step-by-step explanation:
Alexander is a stockbroker who earns a 13% commission each week. Last week, he sold $6800 worth of stocks. To calculate his commission for last week, we need to multiply the total amount of stock sold by the commission rate.
Commission = Total Sales × Commission Rate
Commission = $6800 × 0.13
Commission = $884
So, Alexander made $884 last week in commission.
Assuming Alexander makes the same amount of commission each week, we can calculate his annual commission earnings by multiplying the weekly commission by the number of weeks in a year.
Annual Commission = Weekly Commission × Number of Weeks
Annual Commission = $884 × 52
Annual Commission = $45,968
Therefore, Alexander would have made $45,968 in commission in 2011.
An employee works for a boot sales company and receives a base income, in addition they receive 6% of the total revenue earned from their sales. If the employee sold a total of $1,000 last month, then they earned a commission of $60.
total commission = total sales * commission percentage
This formula can be modified to consider jobs that provide a base pay or a salary. Salary plus commissions are calculated using the following formula:
total income = (total sales * commission percentage) + base salary
Let's walk through some commission examples to see how to calculate a commission and total income step by step.
A position offers a monthly salary of $2,000, plus commission based on sales revenue. Their commission per percentage is 5%.