p(1)=0.03+(1-.03).04

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Solution for p(1)=0.03+(1-.03).04 equation: 


Simplifying
p(1) = 0.03 + (1 + -0.03) * 0.04

Reorder the terms for easier multiplication:
1p = 0.03 + (1 + -0.03) * 0.04

Combine like terms: 1 + -0.03 = 0.97
1p = 0.03 + (0.97) * 0.04

Multiply 0.97 * 0.04
1p = 0.03 + 0.0388

Combine like terms: 0.03 + 0.0388 = 0.0688
1p = 0.0688

Solving
1p = 0.0688

Solving for variable 'p'.

Move all terms containing p to the left, all other terms to the right.

Divide each side by '1'.
p = 0.0688

Simplifying
p = 0.0688

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