Sarah Wiggum would like to make a single investment and have $2.4 million at the time of her retirement in 32 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 15 percent, how soon could she then retire?
a. If Sarah can earn 4 percent annually for the next 32 years, the amount of money she will have to invest today is $ (Round to the nearest cent.)