Question

The Dempsey family saves 5% of their monthly take home

pay for vacations. Last year, their family went to the coast
and had a great time. They spent their entire vacation
savings of $1265. What was the family's monthly take
home pay?

Answer 1

$2108.33

Explanation:

1) if $1265 is for a year we need to find the vacation savings for a month

1265/12=105.42

since 105.42 is 5%(0.05) of the monthly take home pay then we need to find the monthly take home pay, lets take the monthly take home pay as x

so 0.05x= monthly vacation reserve money

0.05x=105.42

x=2108.33

the monthly take home pay was $2108.33

Hope this helps!

Answer 2

$2,108.33

Explanation:

Let x represent the take home pay each month

They save 5% of x = 0.05x

For a year, they would have saved 12 * 0.05x

= 0.6x

The entire vacation savings = $1265 = 0.6x

divide both sides by 0.6

x = $2,108.33