Question

Sarah Wiggum would like to make a single investment and have ​$1.3 million at the time...

Sarah Wiggum would like to make a single investment and have ​$1.3 million at the time of her retirement in 30 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 ​$1.3 ​million?  

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sarah Wiggum would like to make a single investment and have ​$ 1.3 million at the...
Sarah Wiggum would like to make a single investment and have ​$ 1.3 million at the time of her retirement in 30 years. She has found a mutual fund that will earn 3% annually. How much will Sarah have to invest​ today? If Sarah invests that amount and could earn a 15% annual​ return, how soon could she​ retire, assuming she is still going to retire when she has ​$ ​1.3 million?   Click on the table icon to view the...
Sarah Wiggum would like to make a single investment and have $2 million at the time...
Sarah Wiggum would like to make a single investment and have $2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today? If sarah invests that amount and could earn a 14 percent annual return, how soon could she retire, assuming she is still going to retire when she has $2 million?
Sarah Wiggum would like to make a single investment and have $2.3 million at the time...
Sarah Wiggum would like to make a single investment and have $2.3 million at the time of her retirement in 34 years. She has found a mutual fund that will earn 8 percent annually. How much will Sarah have to invest​ today? If Sarah earned an annual return of 16 ​percent, how soon could she then​ retire?  
Sarah Wiggum would like to make a single investment and have ​$1.9 million at the time...
Sarah Wiggum would like to make a single investment and have ​$1.9 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 55 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?
​ (Present value)  Sarah Wiggum would like to make a single investment and have ​$1.6 million...
​ (Present value)  Sarah Wiggum would like to make a single investment and have ​$1.6 million at the time of her retirement in 28 years. She has found a mutual fund that will earn 5 percent annually. How much will Sarah have to invest​ today? If Sarah earned an annual return of 17 ​percent, how soon could she then​ retire?   a.  If Sarah can earn 5 percent annually for the next 28 ​years, the amount of money she will have...
1.Sarah Wiggum would like to make a single investment and have $1.8 million at the time...
1.Sarah Wiggum would like to make a single investment and have $1.8 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 7 percent annually. How much will Sarah have to invest​ today? If Sarah earned an annual return of 18 ​percent, how soon could she then​ retire? a. If Sarah can earn 7 percent annually for the next 35 years, the amount of money she will have to invest today...
​(Future value​) Sarah Wiggum would like to make a single​ lump-sum investment and have ​$1.7 million...
​(Future value​) Sarah Wiggum would like to make a single​ lump-sum investment and have ​$1.7 million at the time of her retirement in 28 years. She has found a mutual fund that expects to earn 5 percent annually. How much must Sarah invest​ today? If Sarah earned an annual return of 16 ​percent, how much must she invest​ today? If Sarah can earn 5 percent annually for the next 28 ​years, how much will she have to invest​ today? $...
Tilly would like to invest ​$3, 300 in​ before-tax income each year in a retirement account...
Tilly would like to invest ​$3, 300 in​ before-tax income each year in a retirement account or in stock investments outside the retirement account. Tilly likes the stock investments outside the retirement account because they provide her with more flexibility and a potentially higher return. Tilly would like to retire in 30 years. If she invests money in the retirement​ account, she can earn 77​% annually. If she invests in stock outside the​ account, she can earn 9​% annually. Tilly...
To make provision for the possible impact of recessions in the future, Albany Mutual Bank would...
To make provision for the possible impact of recessions in the future, Albany Mutual Bank would like to set up a reserve fund. The fund will earn an interest rate of 6% per annum. If the fund pays a fixed amount of $12 million to the bank annually for an infinite period, starting two years from today and the annual payment grows at 2.5% per annum, how much does the bank need in the fund today?
Alma wants to have $20,000 in her investment account ten years from now. Currently, she has...
Alma wants to have $20,000 in her investment account ten years from now. Currently, she has nothing saved. How much would she have to deposit today to reach her goal if this is the only amount she invests? She expects to earn 8.5 percent, compounded annually. How much must she deposit today?