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single investment

/in /by

(Present value)  Sarah Wiggum would like to make a single investment and have ​$1.8 million at the time of her retirement in 28 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 7percent annually for the next 28 ​years, the amount of money she will have to invest today is ​$___ ​(Round to the nearest​ cent.)

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