A friend has $1,000 that he has saved from his part-time job. He will need his money, plus any interest earned on it, in six months and has asked for your help in deciding whether to put the money in a bank savings account at 1.00% interest or to lend it to Victor. Victor has promised to repay $1,050 after six months. Required: a. Calculate the interest earned on the savings account for six months. Note: Round your answer to 2 decimal places. b. Calculate the annual rate of return if the money is lent to Victor. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. Which alternative would you recommend? a. Interest earned b. Rate of return on an annual basis c. Recommended alternative %