A basic safe type of investment is an annuity: one makes monthly deposits of size P for n months at a fixed annual interest rater, and at maturity collects the amount 12P r n ((₁ + 2)² - 1) r (This is not the definition of annuity that you may be familiar with, but the calculation is part of any accumulation of funds over time.) Say you want to create an annuity for a term of 300 months and final value of 1,000,000 dollars. Using nlsolve, make a table of the interest rate you will need to get for each of the different contribution values P = 500+50k, k = 0, ..., 10. Hint: if you write a function for the value of annuity, or the difference between this value and one million dollars with several arguments (P, r, n), you can then create a new function of just the one variable r for each value of P in a loop. The table and pretty tables approach used in homework 2 will be helpful here.

A basic safe type of investment is an annuity: one makes monthly deposits of size P for n months at a fixed annual interest rater, and at maturity collects the amount 12P r n ((₁ + 2)² - 1) r (This is not the definition of annuity that you may be familiar with, but the calculation is part of any accumulation of funds over time.) Say you want to create an annuity for a term of 300 months and final value of 1,000,000 dollars. Using nlsolve, make a table of the interest rate you will need to get for each of the different contribution values P = 500+50k, k = 0, ..., 10. Hint: if you write a function for the value of annuity, or the difference between this value and one million dollars with several arguments (P, r, n), you can then create a new function of just the one variable r for each value of P in a loop. The table and pretty tables approach used in homework 2 will be helpful here.

C++ for Engineers and Scientists

4th Edition

ISBN:9781133187844

Author:Bronson, Gary J.

Publisher:Bronson, Gary J.

Chapter4: Selection Structures

Section: Chapter Questions

Problem 14PP

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