Use the compounding or discounting formula to answer the questions. Round answers to the nearest dollar.

a$.$ Your small business has a cash reserve of $$200,000,$ earning $2\%$ annual interest. How much will your cash reserve be worth in $3$ years?

b$.$ You want $$1$ million in your retirement account in $50$ years. If your account grows at an annual rate of $4\%,$ how much do you have to deposit today to reach $$1$ million in $50$ years?