The rising cost of nursing homes is forcing families to plan ahead. Nursing home costs have risen roughly 20% in 3 years, to an average of $46,000 per year. What is the cost of nursing home care 3 years ago? Round to the nearest thousands.

Question

anonymous · Answer

This is one of many similar problems you posted. You should be able to solve these by now or at least attempt an answer and ask for help by pointing out where you got stuck. I think.

anonymous · Answer

20% / 46,000?

anonymous · Answer

Let us assume 3 years ago the cost was X.

The problem states 20% of X plus X equals 46,000.

So, X + 0.2X = 46,000
So, 1.2X = 46,000
So, X = 46,000/1.2

anonymous · Answer

38,000?

anonymous · Answer

It seems like the value is $38,333.33

anonymous · Answer

Rounded to nearest thousands, it will be $38,000.