You just found out that you had a very eccentric uncle who lived quietly in Brooklyn. He left you $65,000. 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, youll 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

Present Value Factors:

Present Value Annuity Factors:

\begin{tabular}{cccccc} \hline & \multicolumn{5}{c}{ interest Rate } \\ \cline { 2 - 6 } Year & 3% & 5% & 7% & 8% & 9% \\ \hline 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 & 8.863 & 7.943 & 7.536 & 7.161 \\ 15 & 11.938 & 10.380 & 9.108 & 8.560 & 8.061 \\ 20 & 14.878 & 12.462 & 10.594 & 9.818 & 9.129 \\ \hline \end{tabular} Now the 12 years have passed, and you are ready to pull some money out of your fund. You talked to your investment advisor who says you can take this money and move it into a fund that will earn 8% interest annually. And you envision tackling most of your bucket list items over the next 15 years. The annual amount you will have to spend for your bucket list activities is . (Note: Round your final answer to two decimal places, but do not round intermediate calculations.) In order to have $74,750 in 12 years, you would need to invest today. (Note: Round your final answer to two decimal places, but do not round intermediate calculations.) \begin{tabular}{cccccc} \hline & \multicolumn{5}{c}{ interest Rate } \\ \cline { 2 - 6 } Year & 3% & 5% & 7% & 8% & 9% \\ \hline 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 \\ \hline \end{tabular}