At the start of each year Joe's salary increases to take inflation into account. Inflation averaged 2% per annum last year and 3% per annum the year before that.

Joe's salary this year is $42,0000
Joe's salary two years ago, correct to 2 decimals is?

Question

At the start of each year Joe's salary increases to take inflation into account. Inflation averaged 2% per annum last year and 3% per annum the year before that. 

Joe's salary this year is $42,0000
Joe's salary two years ago, correct to 2 decimals is?

anonymous · Answer

First you need to find out what last years income was. Last year's income, x, plus .02x is 42000

anonymous · Answer

so x+.02x=42000
combine like terms
1.02x=4200
see if you can find out x for me ^^

anonymous · Answer

420000 *

dehelloo · Answer

41176.47

dehelloo · Answer

So then we do it again?

anonymous · Answer

its 411765.71, accidentally gave you the wrong income ^^

anonymous · Answer

But yeah, expect now its .03 because it was a 3% increase.
x+.03x=411765.71

dehelloo · Answer

How did you get 411765.71?

anonymous · Answer

x+.02x=420000
1.02x=420000
x=411765.71

anonymous · Answer

You probably left out a few zeros like I did haha

dehelloo · Answer

Oh no sorry its meant to be 42,000*

anonymous · Answer

not to butt in, but no one writes  $42,0000
too many zeros after the comma

dehelloo · Answer

Yet somehow the answer is E 39,977 Not sure how

anonymous · Answer

Haha, okay so instead it would be:
x+.02x=42,000

anonymous · Answer

1.02x=42,000

dehelloo · Answer

39974.24** but answer is 39977

dehelloo · Answer

no idea whats going on lol

anonymous · Answer

x=41,176.47

x+.03x=41,176.47
1.03x=41,176.47
x=39977.16

anonymous · Answer

39,977 would be the answer if you left off the two decimals, but it says to round to two decimal places ^^

dehelloo · Answer

cheers mate