Paper , Order, or Assignment RequirementsAssignment Brief and GuidanceIn two or three paragraphs, describe where you would “like to be” financially in 10 years. Include things like your career preparation/opportunities, housing, transportation and (generic) family situation. (The purpose is to have you give this issue thought, not to pry.)After describing what you’d like, assess your probability of getting there? Do you see any major barriers, or are you already on the right track? Other than pursuing higher education (which, by the way, tends to be a very wise investment over the years), what changes/initiatives or steps do you intend to take in order to help make your plans a reality?____________________________________________________________________While it is usually a frivolous (if fun) exercise to think too much about the lottery, it does illustrate the mechanics of an annuity (a form of insurance or investment entitling the investor to a series of annual sums.). To answer the following questions, visit the Powerball website (Powerball.com) for this week and use information in your book, and information available from the web.1. What are the current jackpot (paid in 30 equal annual payments) and the cash payout value? (5 pts.)2. Assuming you could invest the entire cash payout at a guaranteed, insured rate of 2% a year, what would your annual return total? (5 pts.)3. Which option would you take? Explain your choice. (10 pts.)Submission Format1. The length of your response is conditional on the question. Answer fully, but concisely.2. Your submissions should be submitted via the assignment dropbox in .doc or .docx format, using 12 pt type and double spacing.3. Late submissions will not be accepted, absent documented circumstances that made submission impossible.______________________________________________Assignment Brief and GuidanceUsing the tax form, instructions and info attached, answer the following questions.1. Assume you are a single person with no dependents who made $35,000.00 from your primary job and an additional $5,500.00 from a part time position. You had a total of $7,700 dollars withheld in taxes (from both jobs combined) and will take the standard deduction.Will you get a refund or will you have to pay more tax? (5 pts.)What is the amount of the refund/payment? (5 pts.)1. Using the tax tables on page 90 of the instructions, assume a single person has a taxable income of $382,000.00.What will the single person’s total tax be? (5 pts.)What is the single person’s effective tax rate? (5 pts.)

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