$($Related to Checkpoint$5\mathrm{.}4)($Calculating present$$ value$)$

Sarah$$Wiggum

would like to make a single investment and have

$$$$2\mathrm{.}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?$$

Question content area bottom

Part $1$

a$.$ If

Sarah

can earn

$44$

percent annually for the next

$35$

$$years$,$ the amount of money she will have to invest today is

$$$enter your response here.

$($Round to the nearest$$ cent.$)$