Question

algebraic relationships 4d: solve problems involving ratios, rates, and perce and percent decrease, and financial literacy problems ( (7.1a, 7.1b) 1. an electronics store bought a flat- screen television from its supplier for $699 and marked up its price by 15%. richard makes an 8% commission on his sales. if richard sells the flat - screen television at full price, how much commission will he earn (rounded to the nearest cent)? record your answer in the boxes. then fill in the bubbles. be sure to use the correct place value.

Explanation:

Step1: Calculate markup amount

$\text{Markup} = 699 \times 0.15 = 104.85$

Step2: Find full sales price

$\text{Sales Price} = 699 + 104.85 = 803.85$

Step3: Calculate commission amount

$\text{Commission} = 803.85 \times 0.08 = 64.308$

Step4: Round to nearest cent

$\text{Rounded Commission} = \$64.31$

Answer:

$\$64.31$