You are 20 years old and inherit $60,000 from your grandmother. If you wish to purchase a $88,150 boat to celebrate your 25th birthday, what compound annual rate of return must you earn? Use Appendix...

You are 20 years old and inherit $60,000 from your grandmother. If you wish to purchase a $88,150 boat to celebrate your 25th birthday, what compound annual rate of return must you earn? Use Appendix A to answer the question. Round your answer to the nearest whole number.