Problema Solution
A stockbroker is paid 45% of the commission her firm charges her clients. If she personally receives $134.55 on an $11,500 transaction, what is the firm's commission rate?
Answer provided by our tutors
134.55/0.45 = 299
the firm was paid $299 on an $11,500 transaction
299 / 11500 = 0.026
the firm's commission rate is 2.6%