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  • 5 years ago

You would like to have $650,000 in 31 years by making regular deposits at the end of each month in an annuity that pays 5.5% compounded monthly. The table below shows the 2005 marginal tax rates, standard deduction, and exemptions for a single person Tax Rate Single 10% Up to $7300 15% $7301 to $29,700 25% $29,701 to $71,950 28% $71,951 to $150,150 33% $150,151 to $326,450 35% More than $326,450 Standard Deduction $5000 Exemptions (per person) $3200 Determine the deposit at the end of each month. In order to have $650,000 in 31 years, you should deposit [BLANK] each month. (Do not round u

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