Sarah Wiggum would like to make a single investment and have $2.0million 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? a. If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is $_____________(Round to the nearest cent.)
Sarah Wiggum would like to make a single investment and have $2.0million 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? a. If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is $_____________(Round to the nearest cent.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Sarah Wiggum would like to make a single investment and have $2.0million 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?
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?
a. If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is $_____________(Round to the nearest cent.)
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