Exercise F$3$ Saving for a future value

Billy Dan and Betty Lou were recently married and want to start saving for their dream home. They expect the house they want will cost approximately $$325,000.$ They hope to be able to purchase the house for cash in ro ycars.

Required

a$.$ How much will Billy Dan and Betty Lou have to invest each year to purchase their dream home at the end of $10$ years? Assume an interest rate of $9$ percent.

b$.$ Billy Dan's parents want to give the couple a substantial wedding gift for the purchase of their future home. How much must Billy Dan's parents give them now if they are to reach the desired amount of $$325\mathrm{.}000$ in I$2$ years? Assume an interest rate of $9$ percent.