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A friend asks to borrow $49 from you and, in return, will pay you $50 in one year. If your bank is offering 7% interest
A friend asks to borrow $49 from you and, in return, will pay you $50 in one year. If your bank is offering 7% interest on deposits and loans: a. How much would you have in one year if you deposited the $49 instead? S (Round your answer to the nearest cent) How much money could you borrow today if you pay the bank $50 in one year? (Round your answer to the nearest cent.) Should you loan the money to your friend or deposit it in the bank? 0 A. Deposit it in the bank B. Loan the money to your friend
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