Title: Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for a on Post by: bio_man on Feb 5, 2023 Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for a oneyear term or 8.80% for a sixmonth term.
(a) How much will Mishu have after one year if he invests at the oneyear rate? (b) How much will Mishu have after one year if he invested for six months at a time at 8.80% each time? (c) What would the oneyear 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 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.) Title: Re: Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ... Post by: bio_man on Feb 5, 2023 Content hidden
