Question

M = $176,000 + ( 16 % A )

A = $ 216,275 + ( 10 % M )

Solve the equations, If required round any decimal to three places in your computations. For example, .0183 would be rounded to .018. Round your final answer to the nearest dollar.

M = $

A = $

Answer 1

M = $176000 + (16% A)

A = $216275 + (10% M)

M = $176000 + (16% ($216275 + (10% M))

Rplacing A with $216275 + (10% M)

M = $176000 + (16% x $216275 + 16% x(10% M))

M = $176000 + (16% x $216275 + 16% x(10% M))

M = $176000 + ($34604 + 1.6% M)

M = $176000 + $34604 + .016 M

M - .016M = $210604

M(1-.016) = $210604

0.984M = $210604

M = $210604/0.984

M = $214028.46

A = $216275 + (10% M)

A = $216275 + (10% x $214028.46)

A = $216275 + (10% x $214028.46)

A = $216275 + $21402.846

A = $216275 + $21402.846

A = $237677.85