SOLUTION: I am trying to solve a TIMES INTEREST EARNED RATIO formula with only two known variables. The formula is: net income + interest + taxes/interest=12. Net income is 15000 and the rat
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Question 204408: I am trying to solve a TIMES INTEREST EARNED RATIO formula with only two known variables. The formula is: net income + interest + taxes/interest=12. Net income is 15000 and the ratio is 12. If I set it up as (15000+x+y)/x=12, can it be solved for both variables?
You can put this solution on YOUR website! I'm not sure how you got the equation (I'm not a financial math expert), but I do know my algebra. Because you have two variables (x and y) you need 2 equations if you want to solve for x and y. So you need to formulate one more equation if you want to find x and y.
Maybe there's a way to tie x and y together? In other words, maybe there's a way to relate the interest and the taxes?
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