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Time Value Personal Finance Problem Misty needs to have $12,000 in 5 years to fulfill her goal of purchasing a small sailboat. She is willing

image text in transcribedimage text in transcribed Time Value Personal Finance Problem Misty needs to have $12,000 in 5 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 5 years until it grows to $12,000, 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 needed if she can invest $7,800 today. The annually compounded rate of return Misty needs to earn to reach her goal is \%. (Round to two decimal places.) Present value For the case shown in the following table, calculate the present value of the cash flow, discounting at the rate given and assuming that the cash flow is received a the end of the period noted. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) The present value is (Round to the nearest cent.)

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