Question

Reggie works for an accounting firm. He earns $18,000 per year plus 8% of all money he saves his clients. How much money must he save his clients to earn $2,000 per month

Answer 1

He has to save his clients $75,000.

Explanation:

$2,000 per month is 2*2,000 = $24,000

He eanrs a fixed rate of $18,000 per year. So in bonuses, he has to earn 24,000 - 18,000 = $6,000.

His bonuses are 8% of the money he saves his clients.

So this 8% must be $6,000. How much his 100%?

0.08 - $6,000

1 - $x

`0.08x = 6000`

`x = (6000)/(0.08)`

`x = 75000`

He has to save his clients $75,000.