To solve by factoring, you'll first want to get the two terms together on one side of the equation.
Then take the common factor out front, and apply the difference-of-squares formula you've memorized, a<sup>2</sup> - b<sup>2</sup> = (a - b)(a + b), to what remains.
You should end up with three factors. To solve the cubic equation, set each factor equal to zero, and solve the resulting linear equations.
If you get stuck, please reply showing how far you have gotten. Thank you.
Note: Don't start by dividing both sides by v. You'd then get v^2 = 49, and therefore v = 7 or -7, but you're discarding another solution, v = 0. This process is forbidden as it comes under "division by zero."
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