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Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in35 years. She has found a
Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 16percent, how soon could she then retire?
a.If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is$
b.If Sarah can earn an annual return of 16 percent,the number of years until she could retire is nothing.....years.
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