A3aii 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...

A3aii

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.
(10 marks total)

1. If you invest $1000 today at 3% annual interest rate, how much money would you have

in 10 years’ time?