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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

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?

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