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Time Value Personal Finance Problem Misty needs to have $25,000 in 4 years to fulfill her goal of purchasing a small saiboat. She is willing
Time Value Personal Finance Problem Misty needs to have $25,000 in 4 years to fulfill her goal of purchasing a small saiboat. She is willing to invest a lump sum todey and leave the money untouched for 4 years until it grows to $25,000, 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 retum needed if she can invest $18,500 today. The annualy compounded rate of roturn Misty needs to eam to reach her goal is \%. (Round to two decimal places.)
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