Due to increased mailing costs, the new rate will cost publishers $51 million; t

Question

Due to increased mailing costs, the new rate will cost publishers $51 million; this is 12.6% more than they paid the previous year. How much did it cost publishers last year? (Enter your answers in dollars not in millions. Round to the nearest hundreds.)

Due to increased mailing costs, the new rate will cost publishers $51 million; this is 12.6% more than they paid the previous year. How much did it cost publishers last year? (Enter your answers in dollars not in millions. Round to the nearest hundreds.)

Explanation / Answer

Hi,

Please find the correct answer below:

last year cost*(1+12.6%) = 51000000

=> last year cost = 51000000/(1+12.6%)

=> last year cost = $45293072.82

Hence, the correct answer is $45,293,072.82

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