A friend asks to borrow $45 from you and in return will pay you $48 in one year. If your bank is offering a 6.3% interest rate on deposits and loans:

a. How much would you have in one year if you deposited the $45 instead?

b. How much money could you borrow today if you pay the bank $48 in one year?

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

Can you show steps please