Assume you invest $250 at the end of each year for 10 years at an annual interest rate of r. The amount of money in your account after 10 years isAssume your goal is to have $3500 in your account after 10 years.

a. Use the Intermediate Value Theorem to show that there is an interest rate r in the interval 10.01, 0.102—between 1% and 10%—that allows you to reach your financial goal.

b. Use a calculator to estimate the interest rate required to reach your financial goal.

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250((1 + r)10 A = – 1)