SOLUTION: "My salary next year will be 7% more than this year and I will take home $695.50 each week. How much am I taking home a week right now?" What I tried: 7%(x) = 695.50 .07(x) =

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: "My salary next year will be 7% more than this year and I will take home $695.50 each week. How much am I taking home a week right now?" What I tried: 7%(x) = 695.50 .07(x) =       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 689766: "My salary next year will be 7% more than this year and I will take home $695.50 each week. How much am I taking home a week right now?"
What I tried:
7%(x) = 695.50
.07(x) = 6.9550
7x = 695.50
x = 99.36
Some extra steps, I suppose...I was writing out my thoughts as I went along. Thank you in advance!

Found 2 solutions by ankor@dixie-net.com, MathTherapy:
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
My salary next year will be 7% more than this year and I will take home $695.50 each week.
How much am I taking home a week right now?"
:
I would do it this way
:
x = amt your are taking home now
1.07x = 695.50
x = 695.5/1.07
x = $650

Answer by MathTherapy(10557) About Me  (Show Source):
You can put this solution on YOUR website!

"My salary next year will be 7% more than this year and I will take home $695.50 each week. How much am I taking home a week right now?"
What I tried:
7%(x) = 695.50
.07(x) = 6.9550
7x = 695.50
x = 99.36
Some extra steps, I suppose...I was writing out my thoughts as I went along. Thank you in advance!

Let your current weekly salary be S

Then it'll be S + .07S next year, and since the dollar amount that that future salary represents is $695.5, then:

S + .07S = 695.5

1.07S = 695.5

S, or current weekly salary = 695.5%2F1.07, or $highlight_green%28650%29

Send comments and “thank-yous” to “D” at MathMadEzy@aol.com