SOLUTION: 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 enought to at least pay of

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: 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 enought to at least pay of      Log On


   

Question 115833: 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 enought to at least pay off the loan. What is the range of the selling price?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
11,025=X-(.1X)
11,025=.9X
X=11,025/.9
X=$12,250 IS THE MINIMUM SELLING PRICE IN ORDER TO PAY OFF THE LOAN.