Assume:
1. Your semiannual raise is .07 (7%)
2. Your investments have an annual r...
Computers and Technology, 19.02.2020 03:29 GreenHerbz206
Assume:
1. Your semiannual raise is .07 (7%)
2. Your investments have an annual return of 0.04 (4%)
3. The down payment is 0.25 (25%) of the cost of the house
4. The cost of the house that you are saving for is $1M.
You are now going to try to find the best rate of savings to achieve a down payment on a $1M house in 36 months. Since hitting this exactly is a challenge, we simply want your savings to be within $100 of the required down payment.
Write a program to calculate the best savings rate, as a function of your starting salary. You should use bisection searchto help you do this efficiently. You should keep track of the number of steps it takes your bisections search to finish.
Answers: 3
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