Time Value Personal Finance Problem Misty needs to have $22,000 in 7 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 7 years until it grows to $22,000, but she wonders what sort of investment return she will need to eam to reach her goal Use your calculator or spreadsheet to figure out the approximate annually compounded rate of retum needed if she can invest $16.200 today The annually compounded rate of return Misty needs to eam to reach her goal is % (Round to two decimal places.) Perpetuities Consider the data in the following table. (Click on the icon located on the top right comer of the data table below in order to copy its contents into a spreadsheet.) Annual amount $29.000 Discount rate 23% Determine the present value of the perpetuity The present value of the perpetulty is $ (Round to the nearest dollar)