SOLUTION: Marc's retirement fund is worth 4% less now than last year. If his retirement fund is now worth 4800 dollars, how much was it worth last year?

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Question 645813: Marc's retirement fund is worth 4% less now than last year. If his retirement fund is now worth 4800 dollars, how much was it worth last year?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x = amount of fund last year
+x++-+.04x+=+4800+
+.96x+=+4800+
+x+=+4800+%2F+.96+
+x+=+5000+
It was worth $5,000