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Problem Statement 1 [CO4,K2,K3,P1,P3,PO1225] In Computational Economics, the formula relating the present worth P, installment payment A, number of installments n, and the interest rate
Problem Statement 1 [CO4,K2,K3,P1,P3,PO1225] In Computational Economics, the formula relating the present worth P, installment payment A, number of installments n, and the interest rate r is given as, A=[(1+r)n1r(1+r)n]P Suppose, you have bought a BDT 25,000(P) piece of equipment with a 6 months (n) EMI of BDT 5,500(A) per month. Determine the interest rate r by solving the equation using Muller Method. Take three suitable initial guesses as you require. Note that, the value of the interest rate must be real and positive. Solve the Problem using Python Program and perform as many iterations as required to ensure that the solution is correct up to five decimal points
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