Misty needs to have $15,000 in five years to fulfill her goal of purchasing a small sailboat. She is willing to invest a lump sum today and leave the money untouched for five years until it grows to $15,000, but she wonders what sort of investment return she will need to earn to reach her goal. Use your calculator or spreadsheet to figure out the approximate annually compounded rate of return that Misty needs in each of these cases:

a) Misty can invest $10,200 today.

b) Misty can invest $8,150 today.

c) Misty can invest $7,150 today.