Part A

Sarah Wiggum would like to make a single investment and have

$3.7 million at the time of her retirement in

25 years. She has found a mutual fund that will earn

6 percent annually. How much will Sarah have to invest today?

Part B

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

$3.7 million?

Part A

To have $3.7 million at retirement, the amount Sarah must invest today is $???????? (Round to the nearest cent.)