Use the Newton Method to Approximate the Indicated Zero of the Function

question 89

Short Answer

Use the Newton method to approximate the indicated zero of the function. Continue with the iteration until two successive approximations differ by less than 0.0001. Round your answer to six decimal places, if necessary.
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The zero of between and , .

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Definitions:

Wealth Effect

The change in spending behavior by individuals or households due to a change in their wealth, often as a result of asset price changes.

Inflation Rate

A general rise in prices for goods and services across an economy over a certain timeframe.

Nominal

Nominal values refer to monetary values or economic statistics not adjusted for inflation, reflecting their face value.