Let C = 2.32 N + 34180 represent the cost (C) of raising a child to 18 years of age, on an income (N). If the cost is $120,000, what is the income?(
The answer is $36,991. You are welcome. :)
To find the income (N) when the cost (C) is $120,000, we can substitute C = 120,000 into the given equation.
So, 2.32N + 34180 = 120,000.
Now, let's solve for N:
2.32N = 120,000 - 34180
2.32N = 85820
Dividing both sides of the equation by 2.32:
N = 85820 / 2.32
Calculating the value:
N ≈ 37,121.5517
Therefore, the income (N) would be approximately $37,121.55.
To find the income (N) when the cost (C) is $120,000, we can substitute the given cost value into the equation and solve for N.
Let's input the cost value ($120,000) into the equation:
$120,000 = 2.32N + 34180
Now, let's isolate the variable N by subtracting 34180 from both sides of the equation:
$120,000 - 34180 = 2.32N
Simplifying the left side of the equation:
$85820 = 2.32N
Finally, divide both sides of the equation by 2.32 to solve for N:
N = $85820 / 2.32
Using a calculator, we find that N ≈ $37,103.45.
Therefore, the income (N) needed to cover the cost of raising a child to 18 years of age, given a cost of $120,000, is approximately $37,103.45.
$71,474
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