Use 12% interset for Both
1. How much money will result from investing $1,000 annually for 10 years? (**Please note the wording... you are investing $1,000 each year for 10 year and not simply placing the money into an account and letting it sit).
2. How much do you need to invest annually to accumulate $10,000 in 5 years? (**Please note the wording... you are going to invest a certain amount or payment annually each year).