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immidatelty please Manuel wants to invest an inheritance of $21,000 for one year His credit union offers 4.86% for a one-year term or 481% for
immidatelty please
Manuel wants to invest an inheritance of $21,000 for one year His credit union offers 4.86% for a one-year term or 481% for a six month term. (a) How much will Manuel have after one year if he invests at the one-year rate? (b) How much will Manuel have after one year if he invested for six months at a time at 4 81% each time? (c) What would the one-year rate have to be to yield the same amount of interest as the investment described in part (b)? (a) After one year, Manuel will have s (Round the final answer to the nearest cent as needed Round all intermediate values to she decimal places as needed) (b) One year after the initial investment, Manuel will have $ (Round the final answer to the nearest cent as needed Round all intermediate values to sbx decimal places as needed) (c) The one-year rate to yield the same amount of interest as the investment described in part(b) is % (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed)Step by Step Solution
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