single investment
(Present value) Sarah Wiggum would like to make a single investment and have $1.8 million at the time of her retirement in 28 years. She has found a mutual fund that will earn 7 percent annually. How much will Sarah have to invest ;today? If Sarah earned an annual return of 18 percent, how soon could she then ;retire?
a. If Sarah can earn 7percent annually for the next 28 years, the amount of money she will have to invest today is $___ (Round to the nearest ;cent.)
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