. A2 -3 - c Use the present value and future value formulas to solve the following problems. Confirm your answers with your financial calculator. Show both methods of calculation in your answers. When...

.    A2 -3 - c

Use the present value and future value formulas to solve the following problems. Confirm your answers with your financial calculator. Show both methods of calculation in your answers. When performing your calculations, keep as many decimal places as you can for intermediate answers, but round your final answers to two decimal places.

1. You are saving up to buy a $10,000 used car. You currently have $5,000 in your savings account, which pays an interest rate of 3%. If you do not put any more money into this savings account, how long will you have to wait before you can buy the used car?