Timber Inc. invested profits of $215,000.00 in a GIC at 4.51% compounded monthly. How long would it take for the investment to grow to a value of at least $270,000.00? years months Express the answer in years and months, rounded up to the next month

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 49E
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Timber Inc. invested profits of $215,000.00 in a GIC at 4.51% compounded monthly.
How long would it take for the investment to grow to a value of at least $270,000.00?
years
months
Express the answer in years and months, rounded up to the next month
Transcribed Image Text:Timber Inc. invested profits of $215,000.00 in a GIC at 4.51% compounded monthly. How long would it take for the investment to grow to a value of at least $270,000.00? years months Express the answer in years and months, rounded up to the next month
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