Question: Please explain step by step how to do this question? Sarah Wiggum would like to make a single investment and have $1.5 million at the

Please explain step by step how to do this question?

Please explain step by step how to do this question? Sarah Wiggum

Sarah Wiggum would like to make a single investment and have $1.5 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 4 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 $1.5 million

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