Question

Question #68d2d

Answer 1

$69,583.33

Explanation:

If the account increased by 20%, that's the same as multiplying the amount by 1.2. So the equation you have here is:

`1.2x=$83,500`
where x is the original amount in the account.

Divide both sides by 1.2 to get:

`x=$69,583.33`

Answer 2

$69,583.34

Explanation:

Let the original amount = 100%. Then an increase of 20% means

$83,500 represents 120%.

So: 120% = 83,500

1% = `(83,500)/120`

100% = 100 x `(83,500)/120` = $69,583.34

Answer rounded to nearest `1/100` of a dollar.