An estate agaent has the following fee scale for the sale of properties:5% on the first k300000+3.5% on the next k200000+2.5%on the balance. Calculate the selling agent's fee for a property sold for:
a.k455000
B.k876000
C.k1450000
a. For a property sold for k455,000:
Fee = 5% of k300,000 + 3.5% of k155,000
= 0.05 * k300,000 + 0.035 * k155,000
= k15,000 + k5,425
= k20,425
Therefore, the selling agent's fee for a property sold for k455,000 is k20,425.
b. For a property sold for k876,000:
Fee = 5% of k300,000 + 3.5% of k200,000 + 2.5% of k376,000
= 0.05 * k300,000 + 0.035 * k200,000 + 0.025 * k376,000
= k15,000 + k7,000 + k9,400
= k31,400
Therefore, the selling agent's fee for a property sold for k876,000 is k31,400.
c. For a property sold for k1,450,000:
Fee = 5% of k300,000 + 3.5% of k200,000 + 2.5% of k950,000
= 0.05 * k300,000 + 0.035 * k200,000 + 0.025 * k950,000
= k15,000 + k7,000 + k23,750
= k45,750
Therefore, the selling agent's fee for a property sold for k1,450,000 is k45,750.