Question

Find the product of $1.01\times 1.02\times 1.03$

Answer 1

The product $1.01\times 1.02\times 1.03$ can be rewritten as $(1+.01)\times (1+.02)\times (1+.03)$.

Firstly multiply the first and second term as follows:

$(1+.01)(1+.02)(1+.03)=\left[\right(1\times 1)+(1\times .02)+(.01\times 1)+(.01\times .02\left)\right](1+.03)$

$=(1+.02+.01+.0002)(1+.03)$

$=\left(1.0302\right)(1+.03)$

Now multiply the resulting expression:

$\left(1.0302\right)(1+.03)=(1.0302\times 1)+(1.0302\times .03)=1.0302+0.030906=1.061106$

Hence, $1.01\times 1.02\times 1.03=1.061106$.