Brief Exercise C$-4($Algo$)$ Calculate the future value of a single amount $($LO C$-2)$

Arnold and Helene would like to visit Austria in two years to celebrate their $25$th wedding anniversary. Currently, the couple has saved $$17,500,$ but they expect the trip to cost $$21,500.$

Required:

$1-$a$.$ If they put $$17,500$ in an account that earns $7\%$ interest, compounded annually, how much will they have in two years? $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$1-$b$.$ Will they be able to pay for the trip in two years?