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Lastima Nelson, Inc. is recruiting a new Chief Financial Officer (CFO). The recruiting budget is $44,000. Lastima has spent $10,000 on advertising and $8,500 on interviewing. The company is willing to pay 6% commission to a broker for selling the new CFO's home. What is the maximum selling price on which the company would pay 6% commission and stay within its budget?

Respuesta :

merlynthewhizz
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 [tex]x[/tex]
This value of [tex]x[/tex] will be the 100% before the 6% commission is calculated of it.

6% of [tex]x[/tex] is 25500
1% of [tex]x[/tex] is 25500 ÷ 6 = $4250
100% of [tex]x[/tex] is 4250 × 100 = $425,000

So, the maximum value of the home is $425,000

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