Question: A friend asks to borrow $ 4 7 . 0 0 from you and in return will pay you $ 5 0 . 0 0

A friend asks to borrow $47.00 from you and in return will pay you $50.00 in one year. If your bank is offering a 5.8% interest rate on deposits and loans:
a. How much would you have in one year if you deposited the $47.00 instead?
b. How much money could you borrow today if you pay the bank $50.00 in one year?
c. Should you loan the money to your friend or deposit it in the bank?
 A friend asks to borrow $47.00 from you and in return

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