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Manuel wants to invest an inheritance of $ 2 0 , 0 0 0 for one year. His credit union offers 5 . 1 3
Manuel wants to invest an inheritance of $ for one year. His credit union offers for a oneyear term or
for a sixmonth term.
a How much will Manuel have after one year if he invests at the oneyear rate?
b How much will Manuel have after one year if he invested for six months at a time at each time?
c What would the oneyear rate have to be to yield the same amount of interest as the investment described in
part
a After one year, Manuel will have $
Round the final answer to the nearest cent as needed. Round all intermediate values to six 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 six decimal places
as needed.
c The oneyear 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.
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