do you not need to put ut in letter format just need help with the calculations etc from the questions

this is all the data i have for this, is there anything in particular that you need more information on?

Case Study: Jerome It is February 2021. COVID is gonel And Jerome lives in North Little Rock with his 26 year old broth Kyle. Kyle is totally disabled and unable to work; he is dependent on Jerome for financial support ar care. Jerome works one job as a General Manager earning $43,000/year before taxes. He puts $100/month into a pre-tax retirement account. This money is taken out of his paycheck automatically by his employer, so he doesn't have to budget for this himself. His take-home pay is 77% of his gros pay. Each month he budgets for the following monthly expenses: $850 rent, $350 car payment, $74 car insurance, $50 cell phone, $100 student loan $85 credit card, $400 for a home healthcare aid to check in on Kyle while Jerome is at work. Jerome has $5600 in his savings account, and $800 in his checking account. He has a serious girlfriend. They are thinking of getting engaged soon, but haven't yet. Jerome has some debt which he is currently paying off: Car loan through American Honda for his 2020 Honda Accord: $25,000 remaining balance at 2.75% APR Discover credit card: $3,000 remaining balance at 18.1% APR Direct Student Loans: $8,000 remaining balance at 3.4% APR Jerome recently received his 2020 W-2 from his employer. Box 2 of the W-2 reports that Jerome had $7.740 withheld in federal income taxes during 2020. As Jerome's Financial Advisor, prepare a professtonal report letter for him. Your report letter should contain the following info: 1) Use the case study information above to calculate Jerome's debt-to-income ratio and his liquidity ratio. Show all work to be eligible for partial credit. Interpret both of these for him-how do they compare to the rule of thumb? How could he use this information? (Module 1) 20pts 2) Jerome doesn't know if he will receive a tax refund or owe additional tax for 2020. Use the 3- step taxes order of operations to compute the amount of federal income tax actually owed. Use the standard deduction Show all work to be eligible for partial credit. Next, figure out if Jerome will receive a refund or still owe taxes? If so, how much? (Module 3) 30pts 3) Jerome is currently paying the minimum amount on his consumer debta. Describe to him what a power payment is. Use PowerPay and figure out which repayment option would be the best strategy for him-how much would he save by following this option? Include a screen shot of your suggested powerpay option with the savings amount visible in your latter. (Modulo 4) 20pts 4) Jerome currently only has the minimum auto insurance coverage required in Arkansas. Describe what this is. What other coverages would you recommend to Jerome, and why? (Module 5-Part 2) 10pts 5) Jerome is planning to buy a house soon in Conway. He has been pre-approved for a 30 year fixed-rate mortgage with a 3% down payment and 2.12% Interest. The down payment will come out of his savings account. He wants his monthly principal interest payment to be $800. Use the BankRate.com Mortgage Calculator to determine: What is the most expensive house he can afford? Include a screenshot of the calculator results to be eligible for partial credit. Your answer must be within $500 to be considered correct. (Module 5-Part 1) 15pts 6) Use the provided MONTHLY budget excel spreadsheet to create Jerome's current monthly budget (using just the information provided in the case study above), and your suggested monthly budget for Jerome (hint, see HW #2 for estimates, is he forgetting to budget for some things?). Explain and justify your suggested budget in your letter. (Module 2) 35pts 7) Set a SMART financial goal for Jerome using SMART Criteria. You can't use 'buying a house as his goal. Clearly identify how each element of SMART criteria are addressed by your goal. Your goal needs to be logical and make sense given Jerome's case study. (Module 1) 10pts Put the answers to 1-7 above into the letter template below. Write your letter as if writing to Jerome Write your answers as you would a better using complete sentences, correct grammar and paragraphs. 10pts 150pts total 1) Save the letter as a PDF when finished, 2) Save the budget sheet as a PDF when finished, 3) Upload these 2 PDF files, and submit by the due date. Pictures and Word docs will not be accepted for this mid-term, and will not be graded. Late mid-terms will be deducted 10% per hour late Focus Statos MacBook Pro Case Study: Jerome It is February 2021. COVID is gonel And Jerome lives in North Little Rock with his 26 year old broth Kyle. Kyle is totally disabled and unable to work; he is dependent on Jerome for financial support ar care. Jerome works one job as a General Manager earning $43,000/year before taxes. He puts $100/month into a pre-tax retirement account. This money is taken out of his paycheck automatically by his employer, so he doesn't have to budget for this himself. His take-home pay is 77% of his gros pay. Each month he budgets for the following monthly expenses: $850 rent, $350 car payment, $74 car insurance, $50 cell phone, $100 student loan $85 credit card, $400 for a home healthcare aid to check in on Kyle while Jerome is at work. Jerome has $5600 in his savings account, and $800 in his checking account. He has a serious girlfriend. They are thinking of getting engaged soon, but haven't yet. Jerome has some debt which he is currently paying off: Car loan through American Honda for his 2020 Honda Accord: $25,000 remaining balance at 2.75% APR Discover credit card: $3,000 remaining balance at 18.1% APR Direct Student Loans: $8,000 remaining balance at 3.4% APR Jerome recently received his 2020 W-2 from his employer. Box 2 of the W-2 reports that Jerome had $7.740 withheld in federal income taxes during 2020. As Jerome's Financial Advisor, prepare a professtonal report letter for him. Your report letter should contain the following info: 1) Use the case study information above to calculate Jerome's debt-to-income ratio and his liquidity ratio. Show all work to be eligible for partial credit. Interpret both of these for him-how do they compare to the rule of thumb? How could he use this information? (Module 1) 20pts 2) Jerome doesn't know if he will receive a tax refund or owe additional tax for 2020. Use the 3- step taxes order of operations to compute the amount of federal income tax actually owed. Use the standard deduction Show all work to be eligible for partial credit. Next, figure out if Jerome will receive a refund or still owe taxes? If so, how much? (Module 3) 30pts 3) Jerome is currently paying the minimum amount on his consumer debta. Describe to him what a power payment is. Use PowerPay and figure out which repayment option would be the best strategy for him-how much would he save by following this option? Include a screen shot of your suggested powerpay option with the savings amount visible in your latter. (Modulo 4) 20pts 4) Jerome currently only has the minimum auto insurance coverage required in Arkansas. Describe what this is. What other coverages would you recommend to Jerome, and why? (Module 5-Part 2) 10pts 5) Jerome is planning to buy a house soon in Conway. He has been pre-approved for a 30 year fixed-rate mortgage with a 3% down payment and 2.12% Interest. The down payment will come out of his savings account. He wants his monthly principal interest payment to be $800. Use the BankRate.com Mortgage Calculator to determine: What is the most expensive house he can afford? Include a screenshot of the calculator results to be eligible for partial credit. Your answer must be within $500 to be considered correct. (Module 5-Part 1) 15pts 6) Use the provided MONTHLY budget excel spreadsheet to create Jerome's current monthly budget (using just the information provided in the case study above), and your suggested monthly budget for Jerome (hint, see HW #2 for estimates, is he forgetting to budget for some things?). Explain and justify your suggested budget in your letter. (Module 2) 35pts 7) Set a SMART financial goal for Jerome using SMART Criteria. You can't use 'buying a house as his goal. Clearly identify how each element of SMART criteria are addressed by your goal. Your goal needs to be logical and make sense given Jerome's case study. (Module 1) 10pts Put the answers to 1-7 above into the letter template below. Write your letter as if writing to Jerome Write your answers as you would a better using complete sentences, correct grammar and paragraphs. 10pts 150pts total 1) Save the letter as a PDF when finished, 2) Save the budget sheet as a PDF when finished, 3) Upload these 2 PDF files, and submit by the due date. Pictures and Word docs will not be accepted for this mid-term, and will not be graded. Late mid-terms will be deducted 10% per hour late Focus Statos MacBook Pro