 Solution

Banach's fixed-point theorem states that a map $T:Y\to Y$ on a nonempty complete metric space with $d(Tx,Ty)\le qd(x,y)$ for a constant $0\le q<1$ has a unique fixed point, approached from every starting point by iteration.

Choose $x_0$ and let $x_{n+1}=T{x}_n$. Induction gives $d(x_{n+1},x_n)\le q^{n}d(x_1,x_0)$. For $m>n$, the triangle inequality and geometric series giveThus the sequence is Cauchy and converges by completeness to some $x_{\ast }$. The contraction estimate implies continuity, so $T{x}_{\ast }=\lim T{x}_n=\lim x_{n+1}=x_{\ast }$. If $y_{\ast }$ were another fixed point, $d(x_{\ast },y_{\ast })\le qd(x_{\ast },y_{\ast })$ would force equality of the points. Passing $m\to \infty$ also yields the quantitative error estimate