Question: We're doing bisection on this problem. I do not need the bisection to be performed, rather just the equation set to 0 so we can

We're doing bisection on this problem. I do not need the bisection to be performed, rather just the equation set to 0 so we can accurately predict our interest rate. You don't have to solve the full problem I just need you to follow the instructions as to get an equation to gather a root of!

We're doing bisection on this problem. I do not need the bisection

The day after your 21st birthday, you find yourself in possession of a new car and the associated loan. Due to a series of poor decisions, you are unable to recall the interest rate. When explaining to your parents /spouse/SO/ reflection, you feel that knowing the interest rate would be helpful. You know the payments are $888/ month for five years, and the sticker price was $45,000. You know the formula for payments A is: A=P(1+i)n1i(i+1)n where P is the principal, i is the interest rate applied each period (in decimal, not percentage, so 10% is entered as 0.1 ), and n is the number of payments. You decide, being an engineer, that you can figure this out, but algebra is letting you down. This problem will ask you to find the interest rate at various resolutions using Bisection. a) Figure out how to transform your formula into monthly interest, and into an equation that you want the root of. Include the equation in your report. Hint: APR is a thing. The day after your 21st birthday, you find yourself in possession of a new car and the associated loan. Due to a series of poor decisions, you are unable to recall the interest rate. When explaining to your parents /spouse/SO/ reflection, you feel that knowing the interest rate would be helpful. You know the payments are $888/ month for five years, and the sticker price was $45,000. You know the formula for payments A is: A=P(1+i)n1i(i+1)n where P is the principal, i is the interest rate applied each period (in decimal, not percentage, so 10% is entered as 0.1 ), and n is the number of payments. You decide, being an engineer, that you can figure this out, but algebra is letting you down. This problem will ask you to find the interest rate at various resolutions using Bisection. a) Figure out how to transform your formula into monthly interest, and into an equation that you want the root of. Include the equation in your report. Hint: APR is a thing

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