Question

100= (1.75/1.015)+(1.75/1.0165^2)+(101.75/(1+x)^3)
I keep getting .0169, but x is supposed to be .0175

Answer 1

\(100= \dfrac{1.75}{1.015}+\dfrac{1.75}{1.0165^2}+\dfrac{101.75}{(1+x)^3} \)

\(100= 3.4177864 +\dfrac{101.75}{(1+x)^3} \)

\(96.582214 = \dfrac{101.75}{(1+x)^3} \)

\(0.9492109 = \dfrac{1}{(1+x)^3} \)

\(1.0535066 = (1 + x)^3\)

\(1.01752266 = 1 + x\)

\(0.01752266 = x\)