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Question 3, B5-12 (book... Part 1 of 2 HW Score: 6%, 3 of 50 points O Points: 0 of 3 Save (Related to Checkpoint 5.4)

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Question 3, B5-12 (book... Part 1 of 2 HW Score: 6%, 3 of 50 points O Points: 0 of 3 Save (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.0 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 earned an annual return of 14 percent, how soon could she then retire? a. If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is (Round to the nearest cent.)

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