A friend asks to borrow

$46

from you and in return will pay you

$49

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

$46

instead?b. How much money could you borrow today if you pay the bank

$49

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

$46

instead?If you deposit the money in the bank today you will have

$nothing

in one year. (Round to the nearest cent.)b. How much money could you borrow today if you pay the bank

$49

in one year?You will be able to borrow

$nothing

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

deposit the money in the bank

lend the money to your friend

, as it will result in more money for you at the end of the year.(Select from the drop-down menu.)