Hi 104 = 0.005*0 + 0.995*(100+y) Y=? The sol says 4.52%, but i dont know how this is derived???please help?!

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Originally Posted by flynne8 Hi 104 = 0.005*0 + 0.995*(100+y) Y=? The sol says 4.52%, but i dont know how this is derived???please help?! 0.005*0 = 0. So you have 104 = 0.995*(100+y). 104 = 0.995*(100+y) => 104/0.995 = 100 + y. 104/0.995 = 104.5226131 using a scientific calculator. So you have 104.5226131 = 100 + y => y = 4.5226131 ~ 5.52.

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