Awork-at-home opportunity is available in which you will receive 2 percent of the sales for customers you refer to the company. the cost of your ""franchise fee"" is $710. how much would your customers have to buy to cover the cost of this fee? (round your answer to the nearest whole dollar.)

The answer is $35500

Explanation:

We need to collect $710 from the sales of the customers referred by us to cover the franchise fee. But we only make 2% of whatever they spend. If we equate 710 to 2% and solve for 100% we will know what is the total dollar amount they need to spend:

1.   This can be solved using a rule of three:

2% = $710

100% = ?

100 * 710 / 2 = 35500

2.   Or, It can also be solved writing it down as an equation and knowing that 2% also means 2 parts of 100 or 2/100 = .02

710 = .02*Sales

Solve for Sales:

Sales = 710/.02 = 35500

There is no need to round to the nearest whole dollar because the result is already in whole dollars, it does not have any cents.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

True i took the test already