3.3 The Time Value of Money and Interest Rates 4 of 6 (5 complete) P 3-12 (similar to) A friend asks to borrow $48 from you and in return will pay you $51 in one year. If your bank is offering a 6.1% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $48 instead? b. How much money could you borrow today if you pay the bank $51 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 $48 instead? If you deposit the money in the bank today you will have $ in one year. (Round to the nearest cent.)