Sarah Wiggum would like to make a single investment and have $2.3 million at the time of her retirement in 34 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 16 percent, how soon could she then retire?

Answer rating: 100% (QA)

Answer Investment Needed for Sarahs Retirement We can use the future value FV formula to find the in... View the full answer