SOLUTION: I have a word problem that I have to write as a equation and solve but, I'm not sure how. Amy has a savings account. After 5% interest is added to her previous balance she has $12

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Question 1043661: I have a word problem that I have to write as a equation and solve but, I'm not sure how.
Amy has a savings account. After 5% interest is added to her previous balance she has $126. What was here previous balance before the interest?
Found 2 solutions by josgarithmetic, advanced_Learner:
Answer by josgarithmetic(39625) About Me  (Show Source):
You can put this solution on YOUR website!
She has some quantity, p, initially in her savings account.

Interest Added, %285%2F100%29p

New Balance After the Added Interest, 126 dollars

Principle quantity plus interest added is the new balance in the account.
p%2B0.05p=126

Answer by advanced_Learner(501) About Me  (Show Source):
You can put this solution on YOUR website!
LET P be the principal
interest added is
5%2F100%2AP
p%2B5%2F100%2Ap=126
solving for p
p%2B5%2F100%2Ap=126
p%2B0.05%2Ap=126
1.05%2Ap=126
p=120
Check
120%2B0.05%2A120=126 is indeed true