A stockbroker eams 553,000 annually plus 0.8% of his clients' total investment portfolio. If his clients' investments total $1.2 million, what is his commission this year?

$9,600

Step-by-step explanation:

If his clients' investments are a total of 1,200,000, then the equation is 1,200,000·0.008=9,600, so that means the answer is $9,600 in commission

$62,600

Step-by-step explanation:

$53,000 + 0.8% of 1.2 mill is the answer

0.8% = 0.8/100 = 0.008

0.008 x 1,200,000 = 9,600

53,000 + 9,600 = 62,600.