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Sara White would like to make a single investment and have $2.2 million at the time of her retirement in 25 years. She has found

Sara White would like to make a single investment and have $2.2 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 5 percent annually. How much will Sara have to invest today? If Sara earned an annual return of 17 percent, how soon could she then retire?

  1. If Sara can earn 5 percent annually for the next 25 years, the amount of money she will have to invest today is $__
  2. If Sara can earn an annual return of 17 percent, the number of years until she can retire is __?

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