Sarah Wiggum would like to make a single investment and have $2 million at the time of
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Sarah Wiggum would like to make a single investment and have $2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today? If Sarah invests that amount and could earn a 14 percent annual return, how soon could she retire, assuming she is still going to retire when she has $2 million?
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If Sarahs rate of return were 4 percent she would have to deposit 506831 today to reach ...View the full answer
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Related Book For 
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
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