suppose a man is 25 years old and would like to retire at age 60. ? furthermore, he would like to have a retirement fund from which he can draw an income of ? $100,000 per yearlong dash? forever! how can he do? it? assume a constant apr of 8? %.
he can have a retirement fund from which he can draw ? $100,000 per year by having ? $ in his savings account when he retires.

$1314.37

Step-by-step explanation:

We have to calculate final value i.e. balance to earn $100,000 annually from interest.

= = $1,250,000

Now, N = n × y  = 12 × 25 = 300

         I  = 8% =  APR = 0.08

        PV = 0  = PMT = 0

        FV = 1,250,000 = A

Monthly payment (PMT) = $1314.369409 ≈ $1314.37

$1314.37 is required monthly payment in order to $100,000 interest.

the largest number of the four options is 1.8 x 10-2

you have it in scientific notation.

1.80 x 10-6   = 0.00000180

1.80 x 10-4   = 0.000180 (bigger, or "less small", than the former one)

so

1.8 x 10-2       = 0.0180. as you see. the "less small", or the biggest one of them all.

as you have negative exponent, it means you are dividing 1.8 by 100 (i.e. moving the dot towards left, two times).

if you had positive exponent for the scientific notation, power of tenths, you would be multiplying times 100 (moving the dot towards right) as below:

1.8 x (10)2 = 180

so. if you have negative exponent in scientific notation, move the dot toward left. if it is positive, toward right as many times the exponent tells you.