$($Related to Checkpoint$5\mathrm{.}4)($Present value$)$Sarah Wiggum would like to make a single investment and have $$$$2\mathrm{.}2$ million at the time of her retirement in $28$ years. She has found a mutual fund that will earn $4$ percent annually. How much will Sarah have to invest$$ today? If Sarah earned an annual return of $15$percent$,$ how soon could she then$$ retire?$$

Question content area bottom

Part $1$

a$.$If Sarah can earn $4$ percent annually for the next $28$years$,$ the amount of money she will have to invest today is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$