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What the amount Sarah must invest today is

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Question 1: Sarah Wiggum would like to make a single investment and have $1.6 million at the time of her retirement in 40 years. She has found a mutual fund that will earn 3 percent annually. How much will Sarah have to invest today? If Sarah invests that amount and could earn a 15 percent annual return, how soon could she retire, assuming she is still going to retire when she has $1.6 million?

Question 2: To have $1.6 million at retirement, the amount Sarah must invest today is $ ?

Reference no: EM132891316

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