![Question 11 (1 point) On December 28 each year, you are planning to make a charitable donation of $3960 and are in the 30 percent tax bracket You are planning to deposit the tax savings in a savings account for the next 11 years at 5 percent, what will be the future value of that savings account? Use the appropriate Time Value of Mondy table [Eschibit 1-A Exhibit 1B. Exhibit 1.C, OR Exhibit 1-D] (Round your answer to the nearest whole number. Do not include the comma, period, and $ sign in your response.) Your Answer: Answer Save](https://media.cheggcdn.com/media%2Fb0a%2Fb0a52be7-ce72-49eb-8efa-3664a2f828c5%2Fimage)
On December 28 each year, you are planning to make a charitable donation of $3960 and are in the 30 percent tax bracket. You are planning to deposit the tax savings in a savings account for the next 11 years at 5 percent, what will be the future value of that savings account? Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D] (Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
tax savings=3960*30%=1188
future value of the tax savings invested
=1188*1.05^11
=2032
the above is the answer
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