Determining the single? lump-sum investment

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Sarah Wiggum would like to make a single? lump-sum investment and have ?$1.9 million at the time of her retirement in 35 years. She has found a mutual fund that expects to earn 7 percent annually. How much must Sarah invest? today? If Sarah earned an annual return of 17 ?percent, how much must she invest? today?

a If Sarah can earn 7 percent annually for the next 35 ?years, how much will she have to invest? today? (Round to the nearest? cent.)

b If Sarah can earn 17 percent annually for the next 35 ?years, how much will she have to invest? today? (Round to the nearest? cent.)

Reference no: EM131806172

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