Question: Future value ) Sarah Wiggum would like to make a singlelump-sum investment and have $ 1.9 million at the time of her retirement in 35

Future value) Sarah Wiggum would like to make a singlelump-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 investtoday? If Sarah earned an annual return of 17 percent, how much must she investtoday?

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

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

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