Last year Essex Manufacturing paid $3500 for utilities. This year the company used energy-saving techniques to reduce the utility bills by 13% of last year's cost. What was the cost of utilities for Essex Manufacturing this year?
3500 * 0.87 = 3045
To find the cost of utilities for Essex Manufacturing this year, we need to subtract 13% of last year's cost from last year's cost.
Step 1: Calculate 13% of last year's cost.
To find 13% of $3500, we multiply $3500 by 0.13: 3500 * 0.13 = $455.
Step 2: Subtract the calculated amount from last year's cost.
To find this year's cost, we subtract $455 from $3500: $3500 - $455 = $3045.
Therefore, the cost of utilities for Essex Manufacturing this year is $3045.