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

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 2

e represents what you need to earn.

6840 = (1 - 0.24)e