Question

Economists predict that Americans will spend $1,180 on Summer Vacation in 2015, this is up 5.6% from 2014. What did Americans spend in 2014?

Answer 1

Answer: $1117.42

Step-by-step explanation:

Given: The amount predicted by Economist =$1180

Let x be the amount spent by Americans on Summer vacation in 2014.

Therefore,  According to the question, we have

5.6% of x+x=1180

$\Rightarrow0.056\timesx+x=1180\\\Rightarrow x(0.056+1)=1180\\\Rightarrow\ x=\frac{1180}{1.056}=1117.42\approx$

Hence, the amount spent by Americans on Summer vacation in 2014 = $1117.42