There's an example in my text book that is simplifying an equation. I don't understand one of the step. Can someone help?

Question

anonymous · Answer

what is the question?

anonymous · Answer

$$2.5 =  \frac{ (1.01)^{N} }{ (1.01)^{N} -1}$$

anonymous · Answer

Okay, that is the first part. Then they simplify it to:

anonymous · Answer

$$\frac{ 2.5 }{ 1.5 }= (1.01)^{N}$$

anonymous · Answer

what grade of math are you in

anonymous · Answer

I don't understand where the 1.5 came from.

anonymous · Answer

what grade of math are you in though because I am in 8th grade so if you are higher in math than me I can't help you.

anonymous · Answer

Well, this is for my numerical methods class for university. This isn't even 1/15 of the problem.

anonymous · Answer

anonymous · Answer

@awesomeness812 
What is that?

anonymous · Answer

a link

anonymous · Answer

Clearly. Anyway, it wont let me post a question there because I'm from an 'unauthorized state'