Scott wrote a financial algebra textbook for highschool students. He earned 17,500 up front when he submitted the job and he now
receives a 7.5% Royalty based on the total sales of the book. The book retails for $51.95 each. In the first six months 12,241 copies were sold. How much did Scott earn in total payments for the first six months to the nearest cent?
The total amount received by Scott will be given by: Total amount=(amount received after submission)+(Royalty) amount received after submission=$17500 Royalty=7.5% Total amount of cash received after selling 12241 copies will be: 12241x51.95 =635,919.95 amount received for royalty =7.5/100×635,919.95 =47,694 Total amount received=47,694+17500 =$65194
