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Ronald wants to sell his car through a broker who charges a commission of 10% of the selling price. Ronald still owes $11,025 on the car. Ronald must get enough to at least pay off the loan. What is the range of the selling price?
From the problem, for Ronald to "break even" he must get enough to
1. pay off the load of $11,025
2. pay off the broker .10($11,025)= $1,102.50
Therefore he has to get at least:
$11,025 + $1,102.50 = $12,127.50
"selling price" >= $12,127.50