Question: Given Jackson's salary can be decomposed into three components (all after income tax): An annual base salary of $60,000 and it will increase by 6%

Given Jackson's salary can be decomposed into three components (all after income tax):

An annual base salary of $60,000 and it will increase by 6% every year at the beginning of each year. He receives his salary monthly on the last day of each month (i.e., the first payment will be on 31 January 2023).

A sign-on bonus of $20,000, paid with his first salary.

Performance-based bonus paid at the end of each year. This is dependent on his performance, if he performs exceptionally well, he receives $20,000 with probability 0.3; if he performs ok, he receives $15,000 with probability 0.5; and if he performs poorly, he receives $8,000 with probability 0.2.

Each month when he receives his salary, he will put 25% of it to his investment portfolio.

"Create a" table in Excel that presents Jackson's income (base and bonus) and the investment amount for each month over the next 10 years (from the first payment on 31 January 2023 to the payment on 31 January 2033). We assume that, for the first 5 years, Jackson does ok, and he works exceptionally well in the next 5 years.

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