(Future value?) Sarah Wiggum would like to make a single? lump-sum investment and have ?$1.9 million at the time of her retirement in 35 years. She has found a mutual fund that expects to earn 7 percent annually. How much must Sarah invest? today? If Sarah earned an annual return of 17 ?percent, how much must she invest? today?
a. If Sarah can earn 7 percent annually for the next 35 ?years, how much will she have to invest? today? (Round to the nearest? cent.)
b. If Sarah can earn 17 percent annually for the next 35 ?years, how much will she have to invest? today? (Round to the nearest? cent.)