Question 50.50. 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?
A. 37,382
B.36,991
c.36,521
35,856
2.32N + 34180 = 120000
Now just solve for N.
To find the income (N) when the cost (C) is $120,000, we need to substitute the value of C into the equation and solve for N.
Given that C = 2.32N + 34180 and C = $120,000, we can write the equation as follows:
$120,000 = 2.32N + 34180
To solve for N, we first need to isolate the variable N. We can do this by subtracting 34180 from both sides of the equation:
$120,000 - 34180 = 2.32N
$85820 = 2.32N
Next, divide both sides of the equation by 2.32 to solve for N:
N = $85820 / 2.32
Calculating this expression, we find:
N ≈ $37,017.24
Therefore, the income needed to raise a child to 18 years of age with a cost of $120,000 is approximately $37,017.24.
The closest option given is A. $37,382.