need help with this finance problem

Sep 1st, 2015
Anonymous
Category:
Accounting
Price: $5 USD

Question description

I need this in 1 hour. ONLY the answer.

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?

a. If sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is $?

Solve the question mark on problem A


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