Will you have to pay your parents? If so, determine how much you will owe
them. you have to give them
10% of your earnings above $600
0.60x - $300 ≤ 500,000 - $300
0.60x ≤ 499,700
x ≤ 499,700 / 0.60
x ≤ 832,833.33
If your earnings are below or equal to $832,833.33, you will not have to pay your parents. If your earnings are above $832,833.33, you will owe them 10% of the amount by which your earnings exceed $600.
To determine how much you will owe your parents, you need to calculate 10% of your earnings above $600.
Let's assume your earnings are represented by the variable 'x'.
According to the given information, the equation for determining the amount you owe your parents can be written as:
0.60x - $300 ≤ $500,000 - $300
Simplifying the equation, we have:
0.60x ≤ $499,700
To isolate the variable 'x', we divide both sides of the equation by 0.60:
x ≤ $499,700 / 0.60
Calculating the result, we find that:
x ≤ $832,833.33
Therefore, if your earnings are below or equal to $832,833.33, you will not owe your parents anything.
To determine how much you will owe your parents, follow these steps:
1. Determine your earnings: Let's call your earnings 'x' dollars.
2. Calculate the amount you will owe: According to the given condition, you will owe your parents 10% of your earnings above $600. This means that if your earnings are less than or equal to $600, you won't owe them anything.
3. Set up an equation: The equation for the amount you will owe is 0.10(x - $600), which simplifies to 0.10x - $60.
4. Solve the equation: To find the value of 'x' at which the equation is true, set it equal to $500,000 - $300 (as given in your example). So, we have the equation 0.10x - $60 = $499,700.
5. Simplify the equation: Combine like terms, which gives us 0.10x = $499,760.
6. Solve for 'x': Divide both sides of the equation by 0.10 to isolate 'x'. This gives us x = $499,760 / 0.10.
7. Calculate the final value of 'x': Evaluate the expression, which gives us x = $4,997,600.
Therefore, if your earnings are equal to or less than $4,997,600, you will owe your parents 10% of your earnings above $600.