document.write( "Question 1061445: I have a business finance exam soon and I am having some difficulty to arrange formulas and then solving it. Can someone please give a step by step guide as to how to arrive to the answer.
\n" ); document.write( "2.4= 0.3495*1.03/(I-0.03)
\n" ); document.write( "I= 17.999%
\n" ); document.write( "Can someone please explain how to get to the value of I. Any help will be greatly appreciated. Thank you. \n" ); document.write( "

Algebra.Com's Answer #676219 by KMST(5328) $\"\"$ $\"About$

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Finding $\"I\"$ from a \"formula\" like that is what algebra teachers call \"solve for I.\"
\n" ); document.write( "In the formula, $\"I\"$ had been manipulated with several operations.
\n" ); document.write( "You want to undo what has been done to $\"I\"$ .
\n" ); document.write( "Since $\"I\"$ has been \"wrapped\" in several layers of algebra,
\n" ); document.write( "you want to start unwrapping by removing the last layer applied,
\n" ); document.write( "undoing changes in the reverse order that they were applied.
\n" ); document.write( "For example, the first thing done to $\"I\"$ was subtracting 0.03,
\n" ); document.write( "so the last thing you would do would be adding 0.03,
\n" ); document.write( "after you have \"peeled off all the other algebra layers.\"
\n" ); document.write( "Here is how it goes:
\n" ); document.write( " $\"2.4=0.3495%2A1.03%2F%28%28I-0.03%29%29\"$
\n" ); document.write( "We multiply both sides of the equal sign times $\"%28I-0.03%29\"$ to get
\n" ); document.write( " $\"2.4%2A%28I-0.03%29=0.3495%2A1.03\"$
\n" ); document.write( "At that point, you can do the multiplication on the right side,
\n" ); document.write( "to get $\"2.4%2A%28I-0.03%29=0.359985\"$ ,
\n" ); document.write( "or you can keep \"solving\" and do all the calculator work at the end.
\n" ); document.write( "Next step is dividing both sides of the equal sign by 2.4 to get
\n" ); document.write( " $\"I-0.03=0.3495%2A1.03%2F2.4\"$ or $\"I-0.03=0.359985\"$ $\"%22%F7%22\"$ $\"2.4=0.149994\"$ .
\n" ); document.write( "The last step is adding 0.03 to both sides of the equal sign, to get
\n" ); document.write( " $\"I=0.3495%2A1.03%2F2.4%2B0.03\"$ or $\"I=0.149994%2B0.03=0.179994\"$ .
\n" ); document.write( "Now, you have to understand that percentages are ratios,
\n" ); document.write( "and $\"%2217.999%25%22=17.999%2F100=0.17999\"$ . \n" ); document.write( "

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