Solve 1000(1+0.04/2)^2

$$1000 ( 1 + \frac { 0.04 } { 2 } ) ^ { 2 }$$

Evaluate

$$1040.4$$

Solution Steps

Expand \frac{0.04}{2} by multiplying both numerator and the denominator by 100.

$$1000\left(1+\frac{4}{200}\right)^{2}$$

Reduce the fraction \frac{4}{200} to lowest terms by extracting and canceling out 4.

$$1000\left(1+\frac{1}{50}\right)^{2}$$

Add 1 and \frac{1}{50} to get \frac{51}{50}.

$$1000\times \left(\frac{51}{50}\right)^{2}$$

Calculate \frac{51}{50} to the power of 2 and get \frac{2601}{2500}.

$$1000\times \frac{2601}{2500}$$

Multiply 1000 and \frac{2601}{2500} to get \frac{5202}{5}.

$$\frac{5202}{5}$$

Factor

$$\frac{2 \cdot 3 ^ {2} \cdot 17 ^ {2}}{5} = 1040\frac{2}{5} = 1040.4$$