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Question content area top Part 1 Time ValuePersonal Finance Problem Misty needs...

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Accounting

Question content area top
Part 1
Time ValuePersonal Finance Problem Misty needs to have $12 comma 000 in 6 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 6 years until it grows to $12 comma 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 $8 comma 100 today.
Question content area bottom
Part 1
The annually compounded rate of return Misty needs to earn to reach her goal is
enter your response here%.(Round to two decimal places.)

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