Question: The answer is not 6.82% that's incorrect. Can someone figure out the correct answer? annually compounded rate of return needed if she can invest $15,700

The answer is not 6.82% that's incorrect. Can someone figure out the correct answer?

The answer is not 6.82% that's incorrect. Can someone figure out the

annually compounded rate of return needed if she can invest $15,700 today. Time Value Personal Finance Problem Misty needs to have $21,000in 5 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 5 years until it grows to $21,000, 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 'The annually compounded rate of return Misty needs to eamn to reach her goalis [6.82

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