SOLUTION: stockbroker is paid 45% of the comission her firm charges her clients. if she personally receives 134.55 on an 11,500 transaction, what is the firm's commission rate?
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Question 99893: stockbroker is paid 45% of the comission her firm charges her clients. if she personally receives 134.55 on an 11,500 transaction, what is the firm's commission rate?
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.45x=134.55
x=134.55/.45
x=299 is the commision on the sale of 11,500
299/11,500=.026 or 2.6% is the total commission charged.
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