If the number of mortgage applications declined by 7% to 1,625,415. What had been the previous year's number of applications? (Round your answer to the nearest whole number.)

Previous year's number of applications: P=?

P-7%P=1,625,415

Solving for P:

P - (7/100) P=1,625,415

P-0.07P=1,625,415

0.93P=1,625,415

Dividing both sides by 0.93

(0.93P) / 0.93 = (1,625,415) / 0.93

P=1,747,758.064

Rounded to the nearest whole number:

P=1,747,758

Answer: T he previous year’s number of applications had been 1,747,758