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Rachel had bought a year step up gic guaranteed investment certificate the initial interest rate was compounded monthly and

 
 

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1.Rachel had bought a 10-year $15,000 step-up GIC (Guaranteed Investment Certificate). The initial interest rate was 3% compounded monthly and, ...

erest rate was 3% compounded monthly and, after a certain period of time, it was changed to 4% compounded monthly. At the end of the 5-year term Rachel received $5,939.85. How long (in years and months) after the beginning of the term was the interest rate changed?
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1.AU MAT 120 Systems of Linear Equations and Inequalities Discussion

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