SOLUTION: you have gooten a 5% annual raise during each of the past 2 years. If you now earn $24,806.25, what was your salay two years ago?

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Question 182788: you have gooten a 5% annual raise during each of the past 2 years. If you now earn $24,806.25, what was your salay two years ago?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
1.05x=24,806.25
x=24,806.25/1.05
x=$23,625 was last years salary
1.05x=23,625
x=23,625/1.05
x=$22,500 was the salary 2 years ago.