Sarah Wiggum
Sarah Wiggum would like to make a single investment and have 1.6 million at the time of her retirement in 26 years. She has found a mutual fund that will earn 5 percent annually. How much will Sarah have to invest ;today? If Sarah earned an annual return of 117 percent, how soon could she then ;retire?
a. If Sarah can earn 5percent annually for the next 26 years, the amount of money she will have to invest today is $
___. (Round to the nearest ;cent.)
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