A friend asks to borrow $49 from you and in return will pay you $52 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 $49 instead? b. How much money could you borrow today if you pay the bank $52 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 $49 instead? round to nearest cent

b. How much money could you borrow today if you pay the bank $52 in one year? round to nearest cent

c. Should you loan the money to your friend or deposit it in the bank? From a financial perspective, you should lend the money to your friend , as it will result in more money for you at the end of the year.