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Present Value

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Present Value. Sarah Wiggum would like to make single investment and have $2.3 million at the time of her retirement in 32 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 15 percent, how soon could she then retire?

A - If Sarah can earn 5 percent annually for the next 32 years, the amount of money she will have to invest today is $_________

Solving for N - How many years will it take for $510 to grow to $1044.13 if its invested at 9 percent compounded annually?

A-     The number of years it will take for $510 to grow to $1044.13 at 9 percent compounded annually is ____ years.