What would be the interest rate

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Reference no: EM132125645

Run a C code to solve the following problem:

Suppose that you are planning to pay $14500 yearly for 4 years for a car which is $50000 now what would be the interest rate?

You may follow the bellow formula:

P=A((1+i)^n-1)/(i(1+i)^n)

P is 50000, A is $14500 and n is 4 in this problem

Plug thee numbers and use Bisection method to find the roots for the interest rate i. Use [0.001,1] as the interval with maximum error< 0.001

Reference no: EM132125645

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