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Amount of money she will have to invest today

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Sarah Wiggum would like to make a single investment and have $1.5 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 8 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 16 percent, how soon could she then retire?

a. If Sarah can earn 8 percent annually for the next 25 ?years, the amount of money she will have to invest today is ?$_________?

Reference no: EM132420564

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