This exercise is based on the following table, which lists interest rates on long-term investments (based on 10-year government bonds) in several countries in 2021.
Country United States Qatar Iceland South Africa Brazil
Yield
0.025%
2.5%
1.0%
3.5%
4.25%
If you invest $10,600 in Qatar, and the interest is compounded monthly, when, to the nearest month, will your investment be worth $30,000?