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Sarah Wiggum would like to make a single investment and have $3 million at the time of her retirement in 40 years. She has found
Sarah Wiggum would like to make a single investment and have $3 million at the time of her retirement in 40 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to investtoday? If Sarah invests that amount and could earn a 13 percent annualreturn, how soon could sheretire, assuming she is still going to retire when she has $3 million?
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