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(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single invostment and have $2.4million at the time of her retirement in
(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single invostment and have $2.4million at the time of her retirement in 28 years. She has found a mutual fund that will earn 5 percent annually. How much wit Sarah havo to invest today? If Sarah earned an annual return of 15 percent, how soon could sho then retire? a. If Sarah can eam 5 percent annually for the next 28 years, the amount of money the will have to invest today is $ (Round to the nearest cent.)
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