P5-8 (similar to) Question Help Time Value Personal Finance Problem Misty needs to have $24,000 in 5 years to fulfill her goal of purchasing a smal sailboat She is willing to invest a lump sum today and leave the money untouched for 5 years until it grows to 524,000, 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 $16,400 today The annually compounded rate of return Misty needs to eam to reach her goal is % (Round to two decimal places.) Enter your answer the answer box and then click Check Answer All parts showing Clear All Check