Manuel wants to invest an inheritance of 24,000$ for one year. His credit union offers 5.45% for a one year term or 5.40% 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 5.02% 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?