Stability and applicability of iterative methods with memory

Based on the third-order Traub's method, two iterative schemes with memory are introduced. The proper inclusion of accelerating parameters allows the introduction of memory. Therefore, the order of convergence of the iterative methods increases from 3 up to 3.73 without new functional evaluations. One of them includes derivatives and the other one is derivative-free. The stability of the methods with memory is analyzed and their basins of attraction are compared to check the differences between them. The methods are applied to solve two nonlinear problems in Chemistry, such as the fractional conversion of the nitrogen-hydrogen feed that gets converted to ammonia and the Colebrook-White equation.