Suppose the interest rate is 3.8%.

a. Having $600today is equivalent to having what amount in one year?

b. Having $600in one year is equivalent to having what amount today?

c. Which would you prefer,$600 today or $600 in one year? Does your answer depend on when you need the money? Why or why not? a. Having$600

today is equivalent to having what amount in one year?It is equivalent to

$nothing .

(Round to the nearest cent.)b. Having

$ 600$600

in one year is equivalent to having what amount today?It is equivalent to

$nothing .

(Round to the nearest cent.)c. Which would you prefer,

$600 today or $600 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 preferred to $600 in one year. This answer is correct even if you don't need the money today, because by investing the $600 you receive today at the current interest rate, you will have more than $600 in one year." Is the above statement true or false?

True False. (Select from the drop-down menu.)

Enter your answer in each of the answer boxes.