Question: On December 30, you decide to make a $1,000 charitable donation. If you are in a 22 percent tax bracket, how much will you save

On December 30, you decide to make a $1,000 charitable donation. If you are in a 22 percent tax bracket, how much will you save in taxes for the current year? If that tax savings was deposited in a savings account for the next five years at 8 percent, what would be the future value of that account?

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