Basic algebra problem but need help

[TaxLady]

I am spinning my wheels trying to solve this problem and would really appreciate your help. I need to know what formula to use in excel.

I want to pay someone a total of $5000 (including fees). The fees I will pay are 5.6%. How do I figure out the base rate? I think the algebra would be 5000=x+x(.0565).

5000 is cell A1
.0565 is cell A2
x is cell A3

Thanks for your help

 

[Ron Coderre]

I'm pretty sure that
A3: =A1/(1+A2)

Does that help?

 

[Warship]

5000/1.056

 

[Aladin Akyurek]

I am spinning my wheels trying to solve this problem and would really appreciate your help. I need to know what formula to use in excel.

I want to pay someone a total of $5000 (including fees). The fees I will pay are 5.6%. How do I figure out the base rate? I think the algebra would be 5000=x+x(.0565).

5000 is cell A1
.0565 is cell A2
x is cell A3

Thanks for your help

Try...

A3:

=A1/(1+A2)