Question 148025: 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?
Answer by nerdybill(7384)   (Show Source):
You can put this solution on YOUR website! 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?
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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
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Therefore he has to get at least:
$11,025 + $1,102.50 = $12,127.50
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That is:
"selling price" >= $12,127.50
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