Question 140930
Given :{{{FV= P (1+R)^t}}}

PV = 1600. R = 0.06 and t = 5. 

{{{ FV = 1600(1.06)^5 }}}
{{{ FV = 2141 }}} 

Steve would get an additional $141 if he left the money in a bank. That amounts to $28 per year. What is your friendship worth?

For $~30 bucks a year, I would forgo the extra money to be a 'good friend'. What would you do?