1. 7% can also be written as .07
2. To figure out what 7% of 24.50 is than you need to multiple 24.50*.07.
3. 24.50*.07 = 1.715 or $1.72
4. Another way to think about this is as follows:
X/24.50= 7/100 and solve for X
24.50*7 =100x
171.50 =100x
171.50/100=x
1.715 =X
24.50*.07= 1.715 or $1.72
