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Author Question: Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross ... (Read 871 times)

HudsonKB16

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on: Jun 6, 2019

Question 1

Norman works for Honda Oshawa on commission only. He gets $500 for every used car he sells and $750 for every new car. Last month he sold 9 used cars and 4 new cars. What was his gross earning last month?
◦ $2250
◦ $5625
◦ $7500
◦ $2700
◦ $4500

Question 2

Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross commission rate of 5%. Abu is paid on a graduated commission structure. He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month, 40% commission for the next $50 000 worth of mutual funds, and 75% commission on all additional sales in the same month. What is Abu's commission for a month in which he sells $150 000 worth of mutual funds?
◦ $5625
◦ $2700
◦ $4500
◦ $3625
◦ $2250
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by HudsonKB16 on Jun 6, 2019

medine

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Reply #1 on: Jun 6, 2019
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jkhkhkjh

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Reply #2 on: Sep 15, 2022
thank you


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