Suppose the interest rate is 3.7% a. Having 5000 today is equivalent to having what amount in one year? b. Having $600 in one year is equivalent to having what amount today? e. Which would you prefer, 5000 today or $600 in one year? Does your answer depend on when you need the money? Why or why not? a Having $000 today is equivalent to having what amount in one year? is equivalent to $6222) Round to the nearest cent) b. Having 5000 in one year is equivalent to having what amount today? It is equivalent to $578.50 Round to the nearest cont) - pont) possibl This question: 4 points) possible e. Which would you prefer $000 today or $000 in one year? Does your answer depend on when you need the money? Why or why not? "Because money today is worth more than money in the future, $600 today is preformed to $600 in one year This answer is conect even if you don't need the money today because by investing the $600 you receive today at the interest rate, you will have more than 5000 in one year Is the above statement true or fulse? True Submit