Prarie Grains Cooperative wants to invest $45000 in a short term deposit. The bank offers 1.3% interest for a one-year ten and 1.1% for a 6 month term.

a) How much would Prarie Grains receive at the end of one year if the $45000 is invested for one year?

b) How much would Prarie Grains receive at the end of one year if the $45000 is invested for 6 months and then the principal and interest earned is reinvested for another 6 months?

c)What would the one-year rate have to be to yield the same amount of interest as the investment described in part b)?