An accountant earns $3,450 per month after receiving a 5% raise. What was the accountant's monthly income before the raise? Round your answer to the nearest cent
An accountant earns $3,410 per month after receiving a 4% raise. What was the accountant's monthly income before the raise? Round your answer to the nearest cent.
To find the accountant's monthly income before the raise, we will need to reverse the effects of the 5% increase.
Let x be the accountant's monthly income before the raise.
The raise is equal to 5% of x, which can be represented as 0.05x.
The new monthly income after the raise is x + 0.05x, which simplifies to 1.05x.
We are given that the new monthly income after the raise is $3,450.
So we have the equation:
1.05x = 3,450
To solve for x, we divide both sides of the equation by 1.05:
x = 3,450 / 1.05
Calculating this value, we find:
x ≈ $3,285.71
Therefore, the accountant's monthly income before the raise was approximately $3,285.71.
3285.7
An accountant earns $3,430 per month after receiving a 5% raise. What was the accountant's monthly income before the raise? Round your answer to the nearest cent.
3425
1.05x = 3,450
Solve for x.