Mishu wants to invest an inheritance of $50,000 for one year.

Mishu wants to invest an inheritance of $50,000 for one year. His credit union offers 3.95% for a one year term and 3.85% for a six month term. A) how much will mishu receive after one year if he invests at the one year rate B) how much will mishu receive after one year if he invests for six months at a time at the six month rate of 3.85% C) what would the one year rate have to be to yield that same amount of interest as the investment described in part (B)

I NEED HELP WITH PART B ONLY, the answer in my textbook says it’s $51,943.53 AND im using the formula S = P(1 + rt) idk how to get the 51.943.53 from it

Is this the question you were looking for? If so, place your order here to get started!