Question

Ms. Espino buys and sells stocks for investors. Ms. Espino's salary is based on commissions from her stock sales. She receives 8% commission on each class-A security she sells and 3% on each class-B security she sells. If Ms. Espino sells $104,000 worth of class-A securities and $58,750 worth of class-B securities in 3 months, what will her total salary be for these 3 months?

Answer 1

To calculate Ms. Espino's total salary for the 3 months based on her commission from selling class-A and class-B securities, we need to determine the commission amounts for each type of security and then sum them together.

Commission from selling class-A securities:

Commission rate = 8%

Sales amount of class-A securities = $104,000

Commission = Commission rate * Sales amount

Commission = 0.08 * $104,000

Commission = $8,320

Commission from selling class-B securities:

Commission rate = 3%

Sales amount of class-B securities = $58,750

Commission = Commission rate * Sales amount

Commission = 0.03 * $58,750

Commission = $1,762.50

Now, let's calculate the total salary for the 3 months by summing up the commissions from both types of securities:

Total salary = Commission from class-A securities + Commission from class-B securities

Total salary = $8,320 + $1,762.50

Total salary = $10,082.50

Therefore, Ms. Espino's total salary for the 3 months will be $10,082.50 based on the commissions earned from selling class-A and class-B securities.