Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question content area top part 1 time valuepers

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

50.1K

Verified Solution

Question

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.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Briefly explain the phenomenon of voltage magnification due to capacitor switching.

Electrical Engineering
Q

You are investigating a new kind of flatworm and give it food attached to charcoal...

Biology
Q

1 m of a gas is compressed suddenly at atmospheric pressure and temperature 27 C...

Physics
Q

Find the value of x 176 7x 50 The figure is not to scale Q...

Geometry
Q

Suppose a closed economy generates 2000 output and income in equilibrium Suppose also that the...

Basic Math
Q

The light vehicle market share (in percent) in a particular country for pickup trucksis shown...

Basic Math
Q

Assume that the functions f and g are differentiable Find the derivative using the table...

Calculus
Q

MetaGallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana....

Accounting
Q

0 On September 23, Business paid rent OMR 500. What is the Debit Account? Cash...

Accounting
Q

fill the yellow part ...

Accounting
Q

The following is a partially completed performance report for Water Side. View the information. Read...

Accounting
Q

how stock valuation changes with change in economy and change with other parameters?

Accounting