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How much will Sarah have to invest today

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Question - Sarah Wiggum would like to make a single investment and have $1.6 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 6 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?

Reference no: EM132847109

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