Approximate value of (1.04)^1/4 is
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we have to find approximate value of (1.04)^1/4
we should use binomial expansion,
if any number x = (1 + b)^n , in such a way that 1 >> b then, x = 1 + nb
now Let y = (1.04)^1/4
y = (1 + 0.04)^1/4
here we can see that 1 >> 0.04
so, y = 1 + 1/4 × 0.04 = 1.01
hence, (1.04)^1/4 ≈ 1.01
we should use binomial expansion,
if any number x = (1 + b)^n , in such a way that 1 >> b then, x = 1 + nb
now Let y = (1.04)^1/4
y = (1 + 0.04)^1/4
here we can see that 1 >> 0.04
so, y = 1 + 1/4 × 0.04 = 1.01
hence, (1.04)^1/4 ≈ 1.01
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