SOLUTION: Each year, Mr. Brown, a real estate salesman, has the option of selecting the method by which his salary will be determined. Option 1 is a straight 2.67% of his total sales and Op

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: Each year, Mr. Brown, a real estate salesman, has the option of selecting the method by which his salary will be determined. Option 1 is a straight 2.67% of his total sales and Op      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 182642: Each year, Mr. Brown, a real estate salesman, has the option of selecting the method by which his salary will be determined. Option 1 is a straight 2.67% of his total sales and Option 2 is a weekly salary of $1500 plus 0.5% of his total sales. Determine the weekly sales (in dollars) needed for Option 1 to result in the same weekly income as Option 2. After this point, what is the better option?
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
Each year, Mr. Brown, a real estate salesman, has the option of selecting the method by which his salary will be determined. Option 1 is a straight 2.67% of his total sales and Option 2 is a weekly salary of $1500 plus 0.5% of his total sales. Determine the weekly sales (in dollars) needed for Option 1 to result in the same weekly income as Option 2. After this point, what is the better option
:
option 1: I=.0267(S)
option 2: I=.005(S)+1500
:
we want option 1 to equal option 2 so set the equations equal
:
.0267S=.005S+1500
:
.0217S=1500
:
$highlight%28S=69124.42%29in sales for option 1 to equal option 2