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It is said that we can find $f^{-1}(y)$ by solving the equation $y-f(x)=0$ using bisection method. But all sources that I can find use bisection to find roots, so I can't figure how and why. Could you explain it?

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For each particular value of $y$, you find the root of the equation $y-f(x)=0$. You will not get a formula for $f^{-1}(y)$, but an (approximate) value.