George Green wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term or 3.5% for a six month term.

b) How much will he receive (capital plus interest) after one-year if he invests for six months at a time at 3.5% each time? Round to nearest 100th.

c) What would the one-year rate have to be to yield the same amount of interest when investing for six months at a time at 3.5% each time? Give your answer as a percentage round to nearest 100th.