Name: Michelle
Who is asking: Student
Level: Secondary

Question:
The grand prize for winning a contest is $10,000. After 28 percent of the prize is deducted for taxes, the winner receives the balance of the prize in annual payouts of equal amounts over a 3-year period. How many dollars will the prizewinner receive each year of the 3 years?(Disregard the $ sign when gridding your answer.)

English sentences about percent are often quite easy to translate into mathematics. "percent" means "per one-hundred" or "over one-hundred" and "of" is multiplication. (For example one-quarter of 12 is 3, ie  ¹/₄(12) = 3.) Thus

Now deduct the $2,800 from the $10,000 prize and divide the result into three equal parts.