Financial Maths, STD2 EQ-Bank 2 MC A musician receives a royalty of 8% on album sales. If 3500 albums were sold at $18.00 each, what is the musician's royalty payment? $4320 $5040 $5600 $6300 Show Answers Only \(B\) Show Worked Solution \(\text{Total sales}\ =3500 \times 18.00\ =$63\,000\) \(\text{Royalty payment}\) \(=8\% \times 63\,000\) \(= 0.08\times 63\,000=$5040\) \(\Rightarrow B\)