Annual Bonuses A small company has three executives, a president, a chief financial
Chapter 3, Problem 64(choose chapter or problem)
Annual Bonuses A small company has three executives, a president, a chief financial officer (CFO), and a vice president, each of whom it rewards with annual bonuses. The bonus each executive receives is calculated as a percentage of the profits that remain after the bonuses of all three executives have been deducted from the profits. The president receives 5%, the CFO receives 4%, and the vice president receives 2.5%. What will be the bonus amount for each executive if the profits are (a) $200,000? (b) $250,000? (c) $300,000?
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