A frend asks to borrow $51 from you and in return will pay you $54 in one year. If your bank is offering a 5.5% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $51 instead? b. How much money could you borrow today if you pay the bank $54 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 $51 instead? If you deposit the money 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 $54 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? (Select from the drop-down menu.) From a financial perspective, you should (1) (Select from the drop-down menu.) as it will result in more money for you at the end of the year. (1) lend the money to your friend deposit the money in the bank 8. You are purchasing a new TV at Visions Electronics, and the salesperson is trying to convince you to buy a three-year extended warranty. The cost of the warranty to you today will be $371. However, if there is no claim against the warranty. you will get a store credit for $371 to spend three years from now. Assume you won' have any problems with your TV and you plan on buying more electronics at Visions in three years (so you would be certain to use the store credit). Also assume) the interest rate is 5% per year. a. What is the value to you today of the promised store credit? b. Given your answer to a, what is the net cost of the extended warranty? a. What is the value to you today of the promised store credit? The value of the store credit today is $ (Round to the nearest cont.)