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Friend or deposit it in the bank

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Reference no: EM131086457

A friend asks to borrow $46 from you and in return will pay $49 in one year. If your bank is offering a 5.8% interest rate on deposits and loans:

A) How much would you have in one year if you deposited $46 instead? (Round to the nearest cent)

B) How much money could you borrow today if you pay the bank $49 in one year? (Round to the nearest cent)

C) Should you loan the money to your friend or deposit it in the bank?

Reference no: EM131086457

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Friend or deposit it in the bank : A) How much would you have in one year if you deposited $46 instead? (Round to the nearest cent) B) How much money could you borrow today if you pay the bank $49 in one year? (Round to the nearest cent) C) Should you loan the money to your friend or ..
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