Sarah Wiggum would like to make a single investment and have

$2.0

million at the time of her retirement in

35

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

14

percent, how soon could she then retire?

Question content area bottom

Part 1

a.If Sarah can earn

4

percent annually for the next

35

years, the amount of money she will have to invest today is

$enter your response here.

(Round to the nearest cent.)