13. Present value You just found out that you had a very eccentric uncle who lived quietly in Manhattan. He left you $35,000. You just saw the movie The Bucket List and have decided that you want to put some money away so that in 10 years, you can start fulfilling items on that list. With whatever money you have left, you'll pay off some bills. You have found an investment instrument that will pay 5% interest annually. Use the scenarios along with the following factor table data to answer each of the questions. Note that the complete Future Value and Future Value Annuity tables (as well as the Present Value and Present Value Annuity tables) are located in the appendix in your text. Factor Tables Table of Present Value Factors Interest Rate Year 3% 5% 7% 8% 9% 6 .837 .746 .666 .630 .596 8 .789 .677 .582 .540 .502 10 .744 .614 .508 .463 .422 12 .701 .557 .444 .397 .356 15 .642 .481 .362 .315 .275 20 .554 .377 .258 .215 .178 Table of Present Value Annuity Factors Interest Rate Year 3% 5% 7% 8% 9% 6 5.417 5.076 4.767 4.623 4.486 8 7.020 6.463 5.971 5.747 5.535 10 8.530 7.722 7.024 6.710 6.418 12 9.954 15 8.863 11.938 10.380 9.108 7.943 7.536 7.161 8.560 8.061 20 14.878 12.462 10.594 9.818 9.129