note$-$ please use compounding interest methods

Max has some investments that he could use to fund

his business. His first investment is a $5-$year GIC that has been earning interest at $2\mathrm{.}29\%$

compounded daily since its inception.

The GIC agreement states that there would be a $2\mathrm{.}75\%$ penalty on the interest earned

should the investment be cancelled before the $5-$year maturity date.

c$)$ If Max were to leave the investment as is$,$ the GIC would be worth $$13,680\mathrm{.}49$ at the

end of five years. When would Max need to cancel the GIC for him to receive

$$13,250($including the penalty$)?$ Express your answer in years and months, rounded

up to the next month. $(7$ marks$)$