Dear Ikia Shall and will are both valid forms, but shall is often now considered to be more formal, so many speakers/writers do not use it at all! As an emphatic word, shall is very good, but many would consider its use to be rather old-fashioned... " I shall go to the ball", said Cinderella!
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But shall is used for a future tense for first person; will is used for second and third persons.I have heard that this is a totally bogus rule made up by a 17th century grammarian whose brain was just a little too idle one day. I have never known anyone to follow this convention, and if rumor is correct, no one ever has!