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Mishu wants to invest an inheritance of $26,000 for one year. His credit union offers 8.74% for a one-year term or 8.69% for a six-month

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Mishu wants to invest an inheritance of $26,000 for one year. His credit union offers 8.74% for a one-year term or 8.69% for a six-month term. (a) How much will Mishu have after one year if he invests at the one-year rate? (b) How much will Mishu have after one year if he invested for six months at a time at 8.69% 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, Mishu 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, Mishu will have $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six 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.)

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