(Present value)Sarah Wiggum would like to make a single investment and have

$1.6

million at the time of her retirement in

28

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

17

percent, how soon could she then retire?

a.If Sarah can earn

5

percent annually for the next

28

years, the amount of money she will have to invest today is

$nothing.

(Round to the nearest cent.)