Solihin invests $25000 for 3 years at a rate of 1.8% per year simple interest. Valerie invests $3000 for 3 years at a rate of x% per yea compound interest. At the end of 3 years, Solihin and Valerie receive the same amount of interest. Calculate the value of x correct to 3 significant figures.

example 2 – simplify: step 1: completely factor both the numerators and denominators of all fractions. step 2: change the division sign to a multiplication sign and flip (or reciprocate) the fraction after the division sign; essential you need to multiply by the reciprocal. step 3 : cancel or reduce the fractions.