Check On January 1, Alan King decided to transfer an amount from his checking account into an Investment account that later will provide $84,000 to send his son to college (five years from now). The Investment account will earn 7 percent, which will be added to the fund each year-end. (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of S1) (Use appropriate factor(s) from the tables provided.) Required: 1. How much must Alan deposit on January 1? 2. What is the interest for the five years? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How much must Alan deposit on January 17 (Round "Present Value to nearest whole dollar amount.) Table or Calculator Function: Future Value Present Value