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1 year ago

A house sold for $165,000, and the total commission received by the broker was $13,200. What was the rate of commission?

Business

1 answer:

andrey2020 [161]1 year ago

7 0

Answer:

the rate of commission is 8%

Explanation:

The computation of the rate of commission is shown below:

Rate of commission is

= Commission received by the broker ÷ Sale value of the home

where,

The Commission received by the broker is $13,200

And, the sale value of the home is $165,000

Now put these values to the above formula

So, the rate of commission is

= $132,00 ÷ $165,000

= 8%

Hence, the rate of commission is 8%

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Lana owns a house worth $325,000 and has a mortgage of $245,000. She owns a guitar worth $750. She also owns a car worth $15,000

diamong [38]

Answer:

$96,850

Explanation:

The net worth refers to the value of all the assets owned by a person or entity minus the value of all the liabilities. In Lana's case the assets are:

House $325,000

Guitar $750

Car $15,000

Stock investments $8,000

Savings Account $2,100

Total value of assets: $350,850

Lana's Liabilities:

Mortgage $245,000

Car loans $9,000

Total value of liabilities: $254,000

So, Lana's net worth would be:

$350,850-$254,000= $96,850

8 0

1 year ago

Read 2 more answers

Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase

zimovet [89]

Answer: a. 2.8

Explanation:

Given : Population mean : $\mu=\$6,000\text{ per day}$

Sample size : n= 49> 30 , the sample is a large sample we use z-test.

Sample mean = $\overline{x}=\$6,400\text{ per day}$

Standard deviation : $\sigma= \$1,000$

The test statistic for population mean is given by :-

$z=\dfrac{\overline{x}-\mu}{\dfrac{\sigma}{\sqrt{n}}}\\\\\Rightarrow\ z=\dfrac{6400-6000}{\dfrac{1000}{\sqrt{49}}}=2.8$

Hence, the value of the test statistic is 2.8

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2 years ago

The core revenue principle states that

Nastasia [14]

Answer:

Explanation:

Companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.

8 0

2 years ago

DeMont Tax Services provides primarily two lines of service: accounting and tax. Accounting-related services represent 60% of it

pogonyaev

Answer:

Accounting revenue = $7,500,000

Tax revenue = $5,000,000

Explanation:

Contribution margin is net of Sales price and variable cost per unit.

Break-even is the level of sales at which the business have no profit no loss. At this point business only covers the the variable and fixed cost.

Average contribution = (Revenue from Accounting x Contribution of accounting services ) + (Revenue from Tax x Contribution of Tax services )

Average contribution = (60% x 30%) + (40% x 40%) = 18% + 16% = 34%

Revenue at break-even = Fixed cost / Contribution margin ratio

Revenue at break-even = $4,250,000 / 34% = $12,500,000

Accounting revenue = $12,500,000 x 60% = 7,500,000

Tax revenue = $12,500,000 x 40% = 5,000,000

8 0

1 year ago

A large beer company previously had a yearly budget of $50 million per year for advertising but increased the budget to $60 mill

ella [17]

Answer:

Yes they can continue advert but only if the 1% is equivalent or greater than the 10$ spent on advert.

Explanation:

There is an increase in revenue by 1%, this indicates that a number of people were attracted to the product because of the advert. With this the company might do better with consistent advert in subsequent year. They can change the channel of advert, improve on the quality of advert or change the time and location of the advert. Infarct, the 1% increment in revenue can be up to 20$ since we are not sure of the exact company's revenue. But if the 1% is far lower than the amount spent, the company can seek advice from professionals.

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1 year ago