Q4, (not important, just for the sake of knowledge)

The terminal value of $107.525 is calculated. Then it was divided by $103,

as (107.525/103)^.5-1 = 2.173%

and then 2.173% * 2 = 4.3459% What’s the point of square root of (107.525/103) and then multiply it by 2?

Maybe my question could also be

can we use (1+2.173)^2 -1 = (107.525/103) as the final answer?