(Future value) Sarah Wiggum would like to make a single lump-sum investment and have $1.7 million at the time of her retirement in 28 years. She has found a mutual fund that expects to earn 77 percent annually. How much must Sarah invest today? If Sarah earned an annual return of 14 percent, how much must she invest today?

(Future value) Sarah Wiggum would like to make a single lump-sum investment and have $1.7 million at the time of her retirement in 28 years. She has found a mutual fund that expects to earn 77 percent annually. How much must Sarah invest today? If Sarah earned an annual return of 14 percent, how much must she invest today?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 34P

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