Answer:
y = $620.14 (nearest cent)
Step-by-step explanation:
Given equation:

Factor out y from the left side:

Carry out the arithmetic operations inside the parentheses by following the <u>order of operations</u> PEMDAS:
Calculate the <u>exponents</u>:

Carry out the <u>multiplication and division</u> from left to right:

Carry out the <u>addition and subtraction</u> from left to right:


Finally, divide both sides by the coefficient of y to isolate y:


Therefore, y = $620.14 (nearest cent)