Fred decides to think about retirement and invests at the age of 26. he invests $15,000 and hopes the investment will be
worth $900,000 by the time he turns 64. if the interest compounds continuously, approximately what rate of growth will he
need to achieve his goal? round to the nearest tenth of a percent.

Step-by-step explanation:

Future value with continuous compounding ; FV =

Introduce ln on both sides of the equation

ln 60 = ln

note:  ln

Next, solve the equation;

4.09 = 38r

Divide both sides by 38 to solve for r;

4.09/38 = r

r= 0.107746 or 10.7746%

Therefore the rate would be 10.775% to the nearest a tenth of a percent.

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.

a c

step-by-step explanation: