Question: (Present value) Sarah Wiggum would like to make a single investment and have $1.5 million at the time of her retirement in 26 years. She

(Present value)Sarah Wiggum would like to make a single investment and have $1.5 million at the time of her retirement in 26 years. She has found a mutual fund that will earn 6 percent annually. How much will Sarah have to investtoday? If Sarah earned an annual return of 16 percent, how soon could she thenretire?

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