Question
1. Sarah Wiggum would like to make a single investment and have $3 million at the time of her retirement in 30 years. She has
1. Sarah Wiggum would like to make a single investment and have $3 million at the time of her retirement in 30 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 13 percent annual return, how soon could she retire, assuming she is still going to retire when she has $3 million?
a. To have $3 million at retirement, the amount Sarah must invest today is $924956
b. If Sarah invests that same amount and earn a 13% annual return, she could retire in approximately enter your response here years.
I need help with question b, please and thank you!
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