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Time Value Personal Finance Problem Misty needs to have $19,000 at the end of 8...

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Accounting

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Time Value Personal Finance Problem Misty needs to have $19,000 at the end of 8 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 8 years until it grows to $19,000, but she wonders what sort of investment return she will need to earn to reach h goal. Use your calculator or spreadsheet to figure out the annually compounded rate of return needed if she can invest $13,000 today me an any compounded rate of return Misty needs to earn to reach her goal is %. Round to two dec mal places

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