Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. please solve this sarah wiggum would like to m

please solve this Sarah Wiggum would like to make a single...

50.1K

Verified Solution

Question

Finance

please solve this

image

Sarah Wiggum would like to make a single investment and have $1.7 million at the time of her retirement in 40 years. She has found a mutual fund that will earn 5 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 $1.7 million? Click on the table icon to view the PVIF table To have $1.7 million at retirement, the amount Sarah must invest today is $ (Round to the nearest cent.) If Sarah invests that same amount and earn a 13% annual return, she could retire in approximately years. (Round to one decimal place.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Mechanical Engineering
1.2K views

discuss the limitations of design wings of MAV aircraft by using FoilSim and Airfoil?

General Management
1.2K views

Requirements How can management be modelled to enhance food security entrepreneurship in rural Zambia? What must you...

Physics
1.2K views

V0 3R 43 A cylindrical drum open at the top contains 15 litres of water...

Geometry
1.2K views

21 Given Prove DE bisects LCDA 23 41 ED AB E A 1 32 D...

Geometry
1.2K views

2 In the diagram above MN 8 a Determine the length of RM and RN...

Algebra
1.2K views

3 Use the distance formula to show that the points 1 5 0 3 and...

Algebra
1.2K views

olve for x in the triangle Round your answer to the nearest tenth 33 6...

Accounting
1.2K views

Required information Foundational (Algo) (L04-1, LO4-2, L04-3, L04-4) Greenwood Company manufactures two products -15,000 units...

Finance
1.2K views

20) Aldridge, Inc. pays an annual dividend of $1.18. What is the dividend yield on...

Accounting
1.2K views

ass me nat on Decembe 31, 2016, Kimberly Clark Corp. s rs a 10 ear,...

Accounting
1.2K views

Not sure which one is right Required information Select the correct answer for...

Finance
1.2K views

The worksheet below presents some information about a project you are asked to evaluate. The...