document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1190113>Question 1190113</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A real estate company sells its premium house model at 2,500,00.00 Php. One can pay it in cash or installment basis where in a buyer is required to make a down payment and pay the balance with interest for a period of not more than 10 years. Down payment is 25% of contract price. Monthly installment is 30,000.00 Php for 10 years. However, a sales agent found a customer who is interested to buy a premium house model.\r<BR>\n" );
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document.write( "1.) What is the total commission if the sales agent earns 3% of down payment and 1% of the monthly installments for 10 years?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #822258 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=822258\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> price of the house is 2,500,000 php.<BR>\n" );
document.write( "down payment is 25% of the sale price = 625,000 php.<BR>\n" );
document.write( "monthly installment is 30,000 php for 10 years.<BR>\n" );
document.write( "10 years * 12 months per year = 120 monthly installments of 30,000.<BR>\n" );
document.write( "salesman earns 3% of the down payment and 1% of the monthly installments = .03 * 625,000 + .01 * 30,000 * 120 = 54,750 php.\r<BR>\n" );
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document.write( "let me know if you have any questions.<BR>\n" );
document.write( "theo\r<BR>\n" );
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