A credit card company has a cash back option for their customers which is based on the annual amount that they charge on their credit cards. The customer receives 1.5% cash on their first $5000 of purchase, 2.5% on the next $5000 of purchase and a 3% on cash back on portion that exceeds $10,000. If a customer receives a cash back of 2.8% on their total annual charges made on the credit card, then what was the customer's annual charge?
Choose the most appropriate option.
A) $40,000
B) $45,000
C) $50,000
D) $55,000
E) $60,000
The customer receives $75 for the first $5000.   The customer receives $125 for the next $5000.   Let x be the total amount of the customer's annual charge.   $200 + 0.03(x-10,000)=0.028x   0.002x=100   x=50,000   The answer is $50,000.
<result>C</result>
A credit card company has a cash back option for their customers which is based on the annual amount that they charge on their credit cards. The customer receives 1.5% cash on their first $5000 of purchase, 2.5% on the next $5000 of purchase and a 3% on cash back on portion that exceeds $10,000. If a customer receives a cash back of 2.8% on their total annual charges made on the credit card, then what was the customer's annual charge?