imber Inc. invested profits of $225,000.00 in a GIC at 5.62% compounded semi- annually. How long will it take for the investment to grow to a value of $365,427.56? years months Express the answer in years and months, rounded to the nearest month

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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Timber Inc. invested profits of $225,000.00 in a GIC at 5.62% compounded semi-
annually. How long will it take for the investment to grow to a value of $365,427.56?
years
months
Express the answer in years and months, rounded to the nearest month
Transcribed Image Text:Timber Inc. invested profits of $225,000.00 in a GIC at 5.62% compounded semi- annually. How long will it take for the investment to grow to a value of $365,427.56? years months Express the answer in years and months, rounded to the nearest month
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