3. Using future value and present value calculation, A=P(1+100IR)t Where: - A= the future value of an investment (\$) - P= principal (present value) (\$) - IR= estimated rate of return (%) - t= Duration of the investment (year) Compute the time value of money for saving i. The future value of a $500 savings deposit after 8 years at an annual interest rate of 1.5% ii. The future value of saving $1500 a year for 5 years at an annual interest rate of 2.25 iii. The present value needed in a saving account that will earn 1.75% annual interest rate if $2000 is needed at the end of 4 years