A math finance question!!
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A math finance question!!

[From: ] [author: ] [Date: 11-08-22] [Hit: ]
75 / .586 = $22316.......
A family has annual loan payments equaling 58.6% of their annual income. During the year, their loan payments total $13,077.75. What is their annual income?

If there's a formula for these type of questions please tell me!! Thank you!

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Let x be their annual income. Then

.586(x) = 13077.75

and

x = 13077.75 / .586 = $22316.98
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