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I need help with these problems (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.1 million
I need help with these problems
(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.1 million at the time of her retirement in 35 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 14 percent, how soon could she then retire? a. If Sarah can earn 5 percent annually for the next 35 years, the amount of money she will have to invest today is $ nearest cent) (Round to the b. If Sarah can earn an annual return of 14 percent, the number of years until she could retire is years. (Round to one decimal place.) (Related to Checkpoint 5.5) (Solving for n) How many years will it take for $480 to grow to $1.073.22 if it's invested at 7 percent compounded annually? xxx The number of years it will take for $480 to grow to $1.073 22 at 7 percent compounded annually is years. (Round to one decimal place.) (Related to Checkpoint 5.6) (Solving for i) At what annual interest rate, compounded annually, would $500 have to be invested for it to grow to $1,911.27 in 12 years? The annual interest rate, compounded annually, at which $500 must be invested for it to grow to $1,911.27 in 12 years is % (Round to two decimal places) Step by Step Solution
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