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Approximation techniques of an equation

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Question: Use graphical approximation techniques of an equation solver to approximate the desired interest rate. A person makes annual payments of $1000 into an ordinary annuity. At the end of 5 years, the amount in the annuity is $5767.98. What annual nominal compounding rate has this annuity earned?

Reference no: EM131193828

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Approximation techniques of an equation : Question: Use graphical approximation techniques of an equation solver to approximate the desired interest rate. A person makes annual payments of $1000 into an ordinary annuity. At the end of 5 years, the amount in the annuity is $5767.98. What a..
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