Given data:
The given expression is (1/2)^3 -(1/4)^2 +1/2.
The given expression can be written as,
[tex]\begin{gathered} (\frac{1}{2})^3-(\frac{1}{4})^2+\frac{1}{2}=\frac{1}{8}-\frac{1}{16}+\frac{1}{2} \\ =\frac{2-1+8}{16} \\ =\frac{9}{16} \end{gathered}[/tex]Thus, the value of given expression is 9/16.