Question: This problem has two questions. (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.3 million at

This problem has two questions. (Related to Checkpoint 5.4) (Present value)

This problem has two questions.

(Related to Checkpoint 5.4) (Present value) 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 8 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire? a. If Sarah can earn 8 percent annually for the next 34 years, the amount of money she will have to invest today is $ (Round to the nearest cent.)

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