an electronics store bought a flat - screen t...
an electronics store bought a flat - screen television from its supplier for $699 and marked up its price 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.
Answer
# Explanation:
## Step1: Calculate the marked - up price
The cost price of the television is $C = 699$. The markup percentage is $5\%=0.05$. The marked - up price $P$ is calculated using the formula $P=(1 + r)C$, where $r$ is the markup rate. So $P=(1 + 0.05)\times699=1.05\times699 = 733.95$.
## Step2: Calculate Richard's commission
Richard's commission rate is $8\% = 0.08$. His commission $C_{commission}$ is calculated by multiplying the marked - up price by his commission rate. So $C_{commission}=0.08\times733.95 = 58.716$.
## Step3: Round the commission
Rounding $58.716$ to the nearest cent gives $58.72$.
# Answer:
$58.72$