Assume that you make investment decisions based on the expectations theory. Based on research, you have obtained the following information about certain market interest rates:

You can borrow at 5% and lend at 4.5% for one year
You can borrow at 6% and lend for 6.5% for two years
One-year rate one year from now is 7% for borrowing and lending
What decision is the most profitable for you? Show your calculations.