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Simplifying 500 = [1 + 0.01(3)] * x Multiply 0.01 * 3 500 = [1 + 0.03] * x Combine like terms: 1 + 0.03 = 1.03 500 = [1.03] * x Solving 500 = 1.03x Solving for variable 'x'. Move all terms containing x to the left, all other terms to the right. Add '-1.03x' to each side of the equation. 500 + -1.03x = 1.03x + -1.03x Combine like terms: 1.03x + -1.03x = 0.00 500 + -1.03x = 0.00 Add '-500' to each side of the equation. 500 + -500 + -1.03x = 0.00 + -500 Combine like terms: 500 + -500 = 0 0 + -1.03x = 0.00 + -500 -1.03x = 0.00 + -500 Combine like terms: 0.00 + -500 = -500 -1.03x = -500 Divide each side by '-1.03'. x = 485.4368932 Simplifying x = 485.4368932
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