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(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have 52 1 million at the time of her

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(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have 52 1 million at the time of her retirement in 28 years. She has found a mutual fund that will eam 5 percent annually. How much will Sarah have to invest today? If Sarah eamed an annual return of 18 percent how soon could she then retire? (Round to the nearest cent.) a. Sarah can earn 5 percent annually for the next 28 years the amount of money she will have to invest today is 5

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