Solve 7164=P[(1+5/100)^2-1]

$$7164 = P [ ( 1 + \frac { 5 } { 100 } ) ^ { 2 } - 1 ]$$

Solve for P

$$P = \frac{2865600}{41} = 69892\frac{28}{41} \approx 69892.682926829$$

Steps for Solving Linear Equation

Reduce the fraction \frac{5}{100} to lowest terms by extracting and canceling out 5.

$$7164=P\left(\left(1+\frac{1}{20}\right)^{2}-1\right)$$

Add 1 and \frac{1}{20} to get \frac{21}{20}.

$$7164=P\left(\left(\frac{21}{20}\right)^{2}-1\right)$$

Calculate \frac{21}{20} to the power of 2 and get \frac{441}{400}.

$$7164=P\left(\frac{441}{400}-1\right)$$

Subtract 1 from \frac{441}{400} to get \frac{41}{400}.

$$7164=P\times \frac{41}{400}$$

Swap sides so that all variable terms are on the left hand side.

$$P\times \frac{41}{400}=7164$$

Multiply both sides by \frac{400}{41}, the reciprocal of \frac{41}{400}.

$$P=7164\times \frac{400}{41}$$

Multiply 7164 and \frac{400}{41} to get \frac{2865600}{41}.

$$P=\frac{2865600}{41}$$