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Richard is paid a retainer of $1630 per month, and also receives a commission of 7% on his monthly sales. If he makes $40 000 worth of sales in a month, his income for the month is

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Answer:

Richard's income for month is $4,430.

Step-by-step explanation:

We are given the following in the question:

Retainer received by Richard = $1630

Percentage of commission earned on monthly sales = 7%

Monthly sales = $40,000

Commission earned =

[tex]=7\%\times 40000\\\\=\dfrac{7}{100}\times 40000\\\\=2800\$[/tex]

Income for month =

= Retainer received + Commission value

[tex]=1630 + 2800\\=\$4430[/tex]

Thus, Richard's income for month is $4,430.

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