Solve k=100/(1+0.02)^3

$$k = \frac { 100 } { ( 1 + 0.02 ) ^ { 3 } }$$

Solve for k

$$k = \frac{12500000}{132651} = 94\frac{30806}{132651} \approx 94.232233455$$

Steps for Solving Linear Equation

Add 1 and 0.02 to get 1.02.

$$k=\frac{100}{1.02^{3}}$$

Calculate 1.02 to the power of 3 and get 1.061208.

$$k=\frac{100}{1.061208}$$

Expand \frac{100}{1.061208} by multiplying both numerator and the denominator by 1000000.

$$k=\frac{100000000}{1061208}$$

Reduce the fraction \frac{100000000}{1061208} to lowest terms by extracting and canceling out 8.

$$k=\frac{12500000}{132651}$$

Assign k

$$k≔\frac{12500000}{132651}$$