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 $$225,000,$

earning $3\%$ annual interest. How much will your cash reserve

be worth in $4$ years?

b$.$ You want $$1$ million in your retirement account in $30$

years. If your account grows at an annual rate of $5\%,$ how

much must you deposit today to reach $$1$ million in $30$ years?