Sarah Wiggum would like to make a single investment and have

$$

$

$2$

$.$

$1$

$$million at the time of her retirement in

$2$

$5$

$$years$.$ She has found a mutual fund that will earn

$7$

$$percent annually. How much will Sarah have to invest

$$

$$today$?$ If Sarah earned an annual return of

$1$

$6$

$$

percent

$,$

$$how soon could she then

$$

$$retire$?$

$$

$$

Question content area bottom

Part

$1$

a

$.$

$$

$$

If Sarah can earn

$7$

$$percent annually for the next

$2$

$5$

$$

years

$,$

$$the amount of money she will have to invest today is

$$

$