1. 7% can also be written as .07 2. To figure out what 7% of 24.50 is than you need to multiple 24.50*.07. 3. 24.50*.07 = 1.715 or $1.72 4. Another way to think about this is as follows: X/24.50= 7/100 and solve for X 24.50*7 =100x 171.50 =100x 171.50/100=x 1.715 =X 24.50*.07= 1.715 or $1.72