A friend asks to borrow $55 from you and in return will pay you $58 in one year. Ifyour bank is offering a 6% interest rate on deposits and loans: How much would you have in one year if you deposited the $55 instead? How much money could you borrow today if you pay the bank $58 in one year? Should you loan the money to your friend or deposit it in the bank?
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A friend asks to borrow $55 from you and in return will pay you $58 in one year. Ifyour bank is offering a 6% interest rate on deposits and loans:
- How much would you have in one year if you deposited the $55 instead?
- How much money could you borrow today if you pay the bank $58 in one year?
- Should you loan the money to your friend or deposit it in the bank?
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- A friend asks to borrow $55 from you and in return will pay you $58 in one year. If your bank is offering a 5.5% interest rate on deposits and loans: How much would you have in one year if you deposited the $55 instead? How much money could you borrow today if you pay the bank $58 in one year? Should you loan the money to your friend or deposit it in the bank?A friend asks to borrow $53.00 from you and in return will pay you $56.00 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 $53.00 instead? b. How much money could you borrow today if you pay the bank $56.00 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $53.00 instead? If you deposit the $53.00 in the bank today, you will have $ in one year. (Round to the nearest cent.)A friend asks to borrow $47 from you and in return will pay you $50 in one year. If your bank is offering an 6.5% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $47 instead? b. How much money could you borrow today if you pay the bank $50 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $47 instead? If you deposit the money in the bank today you will have $____ in one year. (Round to the nearest cent.)
- A friend asks to borrow $45 from you and in return will pay you $48 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 $45 instead? b. How much money could you borrow today if you pay the bank $48 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $45 instead? If you deposit the money in the bank today you will have in one year. (Round to the nearest cent.) b. How much money could you borrow today if you pay the bank $48 in one year? You will be able to borrow $ today. (Round to the nearest cent.) c. Should you loan the money to your friend or deposit it in the bank? (Select from the drop-down menu.) From a financial perspective, you should as it will result in more money for you at the end of the year.A friend asks to borrow $51 from you and in return will pay you $54 in one year. If your bank is offering a 6.3% interest rate on deposits and loans: How much would you have in one year if you deposited the $51 instead? How much money could you borrow today if you pay the bank $54 in one year?A bank will pay you $100 a year for your lifetime if you deposit $2,500 in the bank today. If you plan to live forever, what interest rate is the bank paying?
- Q A friend asks to borrow $55 from you and in return will pay you $58 in one year. If your bank is offering a 6% interest rate on deposits and loans: How much would you have in one year if you deposited the $55 instead? How much money could you borrow today if you pay the bank $58 in one year? Should you loan the money to your friend or deposit it in the bank?You are in desperate need of cash and turn to your uncle, who has offered to lend you some money. You decide to borrow $1,240 and agree to pay back $1,853 in 2years. Alternatively, you could borrow from your bank that is charging 6.5 percent interest annually. Should you go with your uncle or the bank?Perpetuities A local bank will pay you $100 a year for your lidetime if you deposit $2,500 in the bank today. If you live forever, what interest rate is the bank paying you?
- (1)You decide to purchase a new home and need a $100000 mortgage. You take out a loan from the bank that has an interest rate of 7%. What is the yearly payment to the bank to pay off the loan in 20 years? (2) Using T-accounts show what happens to reserves at Security National Bank if one individual deposits $1000 in cash into her checking account and another individual withdraws $750 in cash from her checking account.You want to buy a house for $250,000. The bank requires a down payment of 25%. What is the amount of the mortgage loan the bank will provide for you? Round to the nearest $ and use the $ symbol.You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs $6,200. You plan to put down $1,400 and borrow $4,800. You will need to make annual payments of $1,100 at the end of each year. Show the timeline of the loan from your perspective. How would the timeline differ if you created it from the bank's perspective? Show the timeline of the loan from your perspective. (Select the best choice below.) O A. Year 1 2 3 4 Cash Flow $4,800 - $1,100 -$1,100 - $1,100 - $1,100 - $1,100 O B. Year 1 2 3 4 Cash Flow - $1,400 $1,100 $1,100 $1,100 $1,100 $1,100 O C. Year 1 2 3 4 Cash Flow - $4,800 $1,100 $1,100 $1,100 $1,100 $1,100 O D. Year 1 2 3 4 Cash Flow $6,200 - $1,100 -$1,100 - $1,100 - $1,100 - $1,100