​ (Present value) Sarah Wiggum would like to make a single investment and have
​$2.1
million at the time of her retirement in
28
years. She has found a mutual fund that will earn
6
percent annually. How much will Sarah have to invest​ today? If Sarah earned an annual return of
16
​percent, how soon could she then​ retire? a. If Sarah can earn
6
percent annually for the next
28
​years, the amount of money she will have to invest today is
​$enter your response here.
​(Round to the nearest​ cent.)
Part 2
b. If Sarah can earn an annual return of
16
percent​,
the number of years until she could retire is
enter your response here
years. ​(Round to one decimal​ place.)