A friend asks to borrow $$47$ from you and in return will pay you $$50$ in one year. If your bank is offering a $5\mathrm{.}6\%$ interest

rate on deposits and loans:

a$.$ How much would you have in one year if you deposited the $$47$ instead?

b$.$ How much money could you borrow today if you pay the bank $$50$ in one year?

c$.$ Should you loan the money to your friend or deposit it in the bank?

a$.$ How much would you have in one year if you deposited the $$47$ instead?

If you deposit the money in the bank today you will have $ in one year. $($Round to the nearest cent.$)$

b$.$ How much money could you borrow today if you pay the bank $$50$ in one year?

You will be able to borrow $$1$ today. $($Round to the nearest cent.$)$

c$.$ Should you loan the money to your friend or deposit it in the bank? $($Select from the drop$-$down menu.$)$

From a financial perspective, you should

$,$ as it will result in more money for you at the

end of the year.A friend asks to borrow $ $47$ from you and in return will pay you $ $50$ in one year. If your bank is offering a $5\mathrm{.}6\%$ interest rate on deposits and$$ loans:

a$.$ How much would you have in one year if you deposited the $ $47$instead$?$

b$.$ How much money could you borrow today if you pay the bank $ $50$ in one$$ year?

c$.$ Should you loan the money to your friend or deposit it in the$$ bank?