calculating a price

[Guest]

I have a total of funds available of $3000 and tax of 7% and want to find out
what is the highest base price that I could enter and max out at $3000.
Base number + (Base number X .07) = $3000
I used the trial and error method and came up with $2804. What formula
could I use that would do this for me?

 

[JE McGimpsey]

One way:

=Base number / (1 + 0.07)

 

[Guest]

With 3000 in A1 and .07 in B1, put this in C1

=A1/(1+B1)

Vaya con Dios,
Chuck, CABGx3

 

[Guest]

One play using goal seek ..

Put in C1: =A1+A1*B1
Enter in B1: 0.07

Select C1, click Tools > Goal Seek

Set cell: C1
To value: 3000
By changing cell: A1
Click OK

Excel informs a solution is found,
with a value in A1 of: 2803.738