Sarah Wiggum would like to make a single investment and have 2.1 million at the time...
Sarah Wiggum would like to make a single investment and have 2.1 million at the time of her retirement in 35 years. She has found a mutual fund that will earn her 7 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 14 percent. How soon could she retire?
A If Sarah can earn 7 percent annually for the next 35 years, the amount of money she will have to invest today $ ____________? (Round to the nearest cent).
Homework Answers
I she can earn 7% annually, she needs to invest:-
=PV(rate,nper,pm,fv)
=PV(7%,35,,2100000)
=196692.17
If she can earn 14% annually, she needs to invest:-
=PV(14%,35,,2100000)
=21406.69
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