**Problem 5: Salary Calculation for Sales**Evelyn Watterson sells cosmetics for Final Touch, Inc. She is guaranteed a salary of $650 a month or 7% of her total sales, whichever is greater. What is her gross pay for a month in which her total sales were $9,654?**Solution:**1. Calculate 7% of her total sales: - $0.07 \times 9,654 = 675.78$2. Compare the two amounts: - Guaranteed salary = $650 - 7% of sales = $675.783. Determine whichever amount is greater: - Evelyn's gross pay for the month will be $675.78 since 7% of her sales is greater than the guaranteed salary.**Conclusion:**Evelyn Watterson will receive a gross pay of $675.78 for the month.

Evelyn Watterson's gross pay will be greater from both the options.

Answered: 5. Evelyn Watterson sells cosmetics for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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5. Evelyn Watterson sells cosmetics for Final Touch, Inc. She is guaranteed a salary of $650 a month or 7% of her total sales, whichever is greater. What is her gross pay for a month in which her total sales were $9654?