Javier wants to know how much money was in a savings account before his parents gifted him $1,000 from it. The $1,000 represented 15% of the total amount in the account.

Question

Solve the statement
to find out how much was in the account before Javier received his gift. Round to the nearest penny if needed.

? = $150,000

? = $6,666.67

? = $985.00

? = 1,000.15

Answer 1

To find out how much was in the savings account before Javier received his gift, we know that $1,000 represents 15% of the total amount in the account. We can set up the equation:

\[ x = \frac{1000}{0.15} \]

Where \( x \) is the total amount in the account.

Now, let's perform the calculation:

\[ x = \frac{1000}{0.15} = 6666.67 \]

So, the total amount in the account before the gift was $6,666.67.

Therefore, the correct answer is:

? = $6,666.67