1. * At the end of every year an investor pays £2,000 towards additional voluntary contributions to build up a private pension fund. The investor intends to retire in 30 years and wants the pension fund to contain at least £100,000 at the date of retirement. What is the annual effective rate at which the contributions should accumulate? You should perform a few steps of both the bisection method and the interpolation method with suitable starting values.

1. * At the end of every year an investor pays £2,000 towards additional voluntary contributions to build up a private pension fund. The investor intends to retire in 30 years and wants the pension fund to contain at least £100,000 at the date of retirement. What is the annual effective rate at which the contributions should accumulate? You should perform a few steps of both the bisection method and the interpolation method with suitable starting values.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

See similar textbooks