Question on math

Question

When you buy​ something, it actually costs more than you may think-at least in terms of how much money you must earn to buy it. For​ example, if you pay ​24% of your income in​ taxes, how much money would you have to earn to buy a used car for ​$6,840​?

$__ (Round to the nearest whole number as needed.)

Answer 1

You pay 24% of your income in taxes, which means you do not get to keep all the money you earn.

First, find the percentage of your income that you actually keep:

100% - 24% = 76%

So, you keep 76% of your income.

Let x represent the amount of money you need to earn. Since 76% of that amount must equal the cost of the car, we write:

0.76x = 6840

x = 6840 / 0.76

x = 9000

Therefore, you would need to earn $9000.

You can check that answer by finding 24% of $9000:

9000(0.24) = 2160

Then we can subtract the taxes:

9000 - 2160 = 6840

So, after paying taxes, you would have exactly $6840 to buy the car.

Answer 2

Hello, Britney,

To answer your question we want to know how much we need to earn that, after taxes, will be equal to $6,840. Taxes are 24% of total income.

Let's put this into an equation, where we'll let X be the income before taxes.

Putting this into an equation, we can say that

$6840 = X*(1-0.24)

X*(1-0.24) tells us how much would be left of earnings, X, after a 24% tax is removed. Set that equal to the amount we pay for the car ($6.840) and solve for X.

X = $8,781

Ihope this helps,

Bob

Answer 3

e represents what you need to earn.

6840 = (1 - 0.24)e