A friend asks to borrow $$54\mathrm{.}00$ from you and in return will pay you $$57\mathrm{.}00$ in one year. If your bank is offering a $6\mathrm{.}3\%$ interest rate on deposits and loans:

a$.$ How much would you have in one year if you deposited the $$54\mathrm{.}00$ instead?

b$.$ How much money could you borrow today if you pay the bank $$57\mathrm{.}00$ 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 $$54\mathrm{.}00$ instead?

If you deposit the $$54\mathrm{.}00$ 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 $$57\mathrm{.}00$ in one year?

If you pay the bank $$57\mathrm{.}00$ in one year, you will be able to borrow $ today. $($Round to the nearest cent.$)$

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

From a financial perspective, you should

$,$ as it will result in more money for you at the end of the year. $($Select from the drop$-$down menu.$)$