Svetlana Is an Independent Insurance Broker Placing Various Clients with Any

Short Answer

Svetlana is an independent insurance broker placing various clients with any of several insurance companies. On homeowner insurance policies, each month she receives: (i) $20 for each renewal of an existing policy, (ii) $35 per policy placed with a new client, and (iii) 5.5% of the annual premiums on all insurance policies (both new and renewals) written in the month. In October, she placed 37 new-client policies representing $14,375 in annual premiums and 126 policy renewals representing $47,880 in annual premiums. What amount did Svetlana earn in October?