Marwa needs to have US$15,000 at the end of 5 years to fulfill her goal of purchasing a small sailboat. She is willing to invest the funds as a single amount today but wonders what sort of investment return she will need to earn. Use your calculator or the time value tables to figure out the approximate annually com- pounded rate of return needed in each of these cases:
a. Marwa can invest US$10,200 today.
b. Marwa can invest US$8,150 today.
c. Marwa can invest US$7,150 today.