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1.07=1.03*1.02*(1+x)
We simplify the equation to the form, which is simple to understand
1.07=1.03*1.02*(1+x)
Simplifying:
1.07=+1.0506*(1+x)
Reorder the terms in parentheses
1.07=+(+1.0506+1.0506x)
Remove unnecessary parentheses
+1.07=+1.0506+1.0506x
We move all terms containing x to the left and all other terms to the right.
-1.0506x=+1.0506-1.07
We simplify left and right side of the equation.
-1.0506x=-0.0194
We divide both sides of the equation by -01.0506 to get x.
x=0.0184656386827
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