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( Related to Checkpoint 5 . 4 ) ( Present value ) Sarah Wiggum would like to make a single investment and have $ 2
Related to Checkpoint Present value Sarah Wiggum would like to make a single investment and have $ million at the time of her retirement in years. She has found a mutual fund that will earn percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of percent, how soon could she then retire?
a If Sarah can earn percent annually for the next years, the amount of money she will have to invest today is Round to the nearest cent.
b If Sarah can earn an annual return of percent, the number of years until she could retire is years. Round to one decimal place.
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