Please answer the following essay question:
1 answer:
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The budget is $44000
Total spent so far is $10000 + $8500 = $18500
The amount left to spend = 44000 - 18500 = $25500
$25500 is the maximum 6% commission that Lastima Nelson Inc. can spend and stays within the budget
Let the maximum price of the home be
This value of will be the 100% before the 6% commission is calculated of it.
6% of is 25500
1% of is 25500 ÷ 6 = $4250
100% of is 4250 × 100 = $425,000
So, the maximum value of the home is $425,000
Total spent so far is $10000 + $8500 = $18500
The amount left to spend = 44000 - 18500 = $25500
$25500 is the maximum 6% commission that Lastima Nelson Inc. can spend and stays within the budget
Let the maximum price of the home be
This value of
6% of
1% of
100% of
So, the maximum value of the home is $425,000