Present value

You just found out that you had a very eccentric uncle who lived quietly in the Bronx. He left you $$55,000.$ You just saw the movie The Bucket List and have decided that you want to put some money away so that in $12$ 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 $7\%$ 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. $"$

$\backslash$table$[[,$interest Rate$],[$Year$,3\%,5\%,7\%,8\%,9\%$