Suppose the interest rate is $3\mathrm{.}9\%.$

a$.$ Having $$350$ today is equivalent to having what amount in one year?

b$.$ Having $$350$ in one year is equivalent to having what amount today?

c$.$ Which would you prefer, $$350$ today or $$350$ in one year? Does your

answer depend on when you need the money? Why or why not?

a$.$ Having $$350$ today is equivalent to having what amount in one year?

It is equivalent to $$,.($Round to the nearest cent.$)$