Lesson 7.1.4 What is a Commission? 7th Grade Math 7.RP.3.

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Lesson 7.1.4 What is a Commission? 7th Grade Math 7.RP.3

Percents are used in the Business World everyday Percents are used in the Business World everyday. Here are some examples that we will be learning about today in our lesson!

Sports Agent A Sports Agent is a person who negotiates employment and endorsement deals for athletes.

commission An agent made a COMMISSION when he signed Tony Romo and Dak Prescott to the Dallas Cowboys!

commission Tom Condon Peyton Manning Tom Condon is considered the “most powerful agent in any sport”! He negotiated the richest contract in NFL history for Indianapolis Colts quarterback Peyton Manning. It was a $98 million deal which also included a record setting $34 million signing bonus. Tom Condon’s commission was 3% earning him nearly $3 million for the deal. In addition to Peyton, he also represents 75 current NFL players and several top NFL draft prospects including Peyton’s brother Eli. Peyton Manning

commission Mark Steinberg For every commercial or advertisement Tiger Wood does, his agent earns a COMMISSION! According to Golf Digest, Woods made $769,440,709 in winnings and advertising endorsements from the years 1996 to 2007. Wow… his agent must be rich too! Buick Rendezous SUV Caddyshack

commission Real Estate Agent Car Salesmen Other occupations where salary is earned based on commission… Car Salesmen

Glossary Commission: Is the amount of money a salesman earns for selling a product.

Sales Commission Step 1 Convert your percent to a decimal Step 2 Multiply the money by the percent to find the amount of commission Step 3 Round to the nearest cent if necessary 15%=0.15 $90,000×0.15 $13,500 Commission An agent makes 15% commission on an athlete’s signing bonus. If the bonus is $90,000, what is the agent’s commission?

Sales commission practice A real estate agent makes a 4% commission on property she sells. To the nearest dollar, how much commission does she make on the sale of a house worth $132,500?

Sales commission practice A salesman earns a monthly base pay of $725 plus a 6.5% commission on products that he sells. What will be his total pay for the month if he sells $22,648 worth of products?

Commission practice Tom makes a commission of 6% on all the cars he sells. If he sells a car for $12,500, how much money does he make in commission? Phil makes a commission of 12% on each bike he sells. If he sells a bike for $289, hoe much commission does he make?

Commission Practice 2% on $1,500 in sales 8% on $80,000 in sales

Commission Practice 12% on $3,200 in sales 10.5% on a $20,500 in sales 5.5% on $525.50 in magazine sales

Try this… Mary makes a base pay of $100 a week and a commission of 11% on musical instruments she sells. If she sold on electric guitar for $590 last week what is Mary’s total salary last week?

Commission practice continued.. Curt made a base pay of $175 and 20% commission from selling $275 in chocolates. What was Curt’s total salary for last week? A sports agent earns an 8.5% commission on an athlete's signing bonus. If the signing bonus was $750,000, what was the agent’s commission earned?

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