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Old 09-03-2002, 11:14 PM
Mike Gallo Mike Gallo is offline
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Join Date: Sep 2002
Posts: 3,765
Default Revision

I have some information I forgot to include.

I have to pay commission to a collection staff of five.
I need to figure out how much each collector needs to collect to show a profit. The money will go into a kitty and each collector gets a percentage of that based on performance. The more a collector contributes towards the money, the more they see of it. Usually each collector earns 20%.

On average we recieve upwards of $250,000 worth of new accounts each month. We usually receive 1600 new accounts a month. How much would I need to collect to show a profit. we have a profit margin of 10% of fees collected.

I project we will collect $40,000 dollars this month, with an average increase of 8.00% each month. However we will have a few bad months where we will only hit $40,000, standard deviation applies to the collection world as well.

Many thanks, I will think of more information that I can supply.

MG
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