Part of answering this problems involves using computer program called MATLAB - The Language of Technical Computing

This math problem relates to Numerical Analysis.

Use the Bisection method to solve problem #6 on section 3.1 (page 95). 1. Pick an appropriate starting interval for this problem. How many iterations does it take the Bisection method to obtain a solution that is accurate to within 10-5? 2. What is the approximate value for the interest rate r? Compare your solution to the one you would get if you use Matlab built-in function fzero. 6. If you borrow L dollars at an annual interest rate of r (in decimal form, so 5% is written as 0.05), for a period of m years, then the size of the monthly payment, M, is given by the annuity equation 12M L= r - [1 (1+r/12)12m]. The author needs to borrow $ 150,000 to buy the new house that he wants, and he can only afford to pay $600 per month. Assuming a 30-year mortgage, use the bisection method to determine what interest rate he can afford to pay. (Should the author perhaps find some rich relatives to help him out here?)