Sarah Wiggum would like to make a single investment and have ?$2.3 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 3 percent annually. How much will Sarah have to invest? today? If Sarah invests that amount and could earn a 13 percent annual? return, how soon could she retire assuming she is still going to retire when she has $2.3 million?
To have $2.3 million at? retirement, the amount Sarah must invest today is ?