Question

A family has annual loan payments equal to 32% of their annual income. During the year, the loan payments total $15,680. What is the family’s annual income?

Answer 1

I came up with 49,000 as the family's annual income.

x is the annual income

if we set the equations to 32/100 x = 15,680, we can multiply by 100, this leaves us with 32x=1568000
if we divide by 32, we're left with
x = 49,000

Answer 2

let family income be x

32%x=15680

32/100x=15680

x=15680X100/32

x=49000