You expect to have $1,000 in one year. A bank is offering loans at 6.0% interest per year. How much can you borrow today? Today you can borrow $ (Round to the nearest cent) Suppose the interest rate is 36% a. Having $400 today is equivalent to having what amount in one year? b. Having $400 in one year is equivalent to having what amount today? c. Which would you prefer, $400 today or $400 in one year? Does your answer depend on when you need the money Why or why not? a. Having $400 today is equivalent to having what amount in one year? It is equivalent to $ (Round to the nearest cent) You expect to have $1,000 in one year. A bank is offering loans at 6.0% interest per year. How much can you borrow today? Today you can borrow $ (Round to the nearest cent) Suppose the interest rate is 36% a. Having $400 today is equivalent to having what amount in one year? b. Having $400 in one year is equivalent to having what amount today? c. Which would you prefer, $400 today or $400 in one year? Does your answer depend on when you need the money Why or why not? a. Having $400 today is equivalent to having what amount in one year? It is equivalent to $ (Round to the nearest cent)