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Time Value Personal Finance Problem Misty needs to have $17,000 in 5 years to fut her goal of purchasing a small sailboat She is

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Time Value Personal Finance Problem Misty needs to have $17,000 in 5 years to fut her goal of purchasing a small sailboat She is willing to invest a lump sum today and leave the money untouched for 5 years unt grows to $17,000, but she wonders what sort of investment return she will need to eam to reach her goal. Use your calculator or spread $11,400 today approximate annually compounded rate of retum needed if she can invest The annually compounded rate of ratum Misty needs to earn to reach her goal is % (Round to ten decimal places)

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