Q&A #19568

Sales Tax Computation (Backwards)

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From: ---
To: Teacher2Teacher Service
Date: May 07, 2008 at 13:18:08
Subject: Sales Tax Computation (Backwards)

Is there an equation you could use to determine the amount of money you need to spend such that, when sales tax is added, the sum of the tax and the original amount equals a given amount? In other words, if I want to see how much money I need to spend so that my total expense, plus 7% sales tax, equals $500, is there a formula that will do that every time? I know I can use trial and error, and perhaps even an excel spreadsheet.

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