A friend asks to borrow $$$$55\mathrm{.}0055\mathrm{.}00$ from you and in return will pay you $$$$58\mathrm{.}0058\mathrm{.}00$ in one year. If your bank is offering a $6\mathrm{.}0\%6\mathrm{.}0\%$ interest rate on deposits and$$ loans:

a$.$ How much would you have in one year if you deposited the $$$$55\mathrm{.}0055\mathrm{.}00$instead$?$

b$.$ How much money could you borrow today if you pay the bank $$$$58\mathrm{.}0058\mathrm{.}00$ in one$$ year?

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

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Part $1$

a$.$ How much would you have in one year if you deposited the $$$$55\mathrm{.}0055\mathrm{.}00$instead$?$

If you deposit the $$$$55\mathrm{.}0055\mathrm{.}00$ in the bank$$ today, you will have $$$enter your response here in one year. $($Round to the nearest$$ cent.$)$