Question: ( Related to Checkpoint 5 . 4 ) ( Present value ) Sarah Wiggum would like to make a single investment and have $ 1

(Related to Checkpoint 5.4)(Present value) Sarah Wiggum would like to make a single investment and have $1.5 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 5 percent
annually. How much will Sarah have to invest today? If Sarah earned an annual return of 18 percent, how soon could she then retire?
a. If Sarah can earn 5 percent annually for the next 35 years, the amount of money she will have to invest today is $
(Round to the nearest cent.)
(Related to Checkpoint 5.4)(Present value) Sarah Wiggum would like to make

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