Part 1 of 3 o A friend asks to borrow $52 from you and in return will pay you $55 in one year. If your bank is offering a 5.7% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $52 instead? b. How much money could you borrow today if you pay the bank $55 in one year? C. Should you loan the money to your friend or deposit it in the bank? GOOD Homework: Chapter 3 Homework Question 10, P 3-17 (similar to) Part 1 of 3 HW > Suppose the interest rate is 4.4%. a. Having $350 today is equivalent to having what amount in one year? b. Having $350 in one year is equivalent to having what amount today? c. Which would you prefer, $350 today or $350 in one year? Does your answer depend on when you need the money? Why or why not? 3-22 (simila Part 1 of 4 Calculate the future value of $10,000 in a. Four years at an interest rate of 7% per year. b. Eight years at an interest rate of 7% per year. c. Four years at an interest rate of 14% per year. d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)? You are planning to invest $4,000 in an account earning 14% per year for retirement a. If you put the $4.000 in an account at age 23, and withdraw it 48 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 38 years, how much will you have at the end