I need help me with In this case scenario, the excel file is how it needs To be filled.

you? nything surprise Case Two - Create A Future Budget: Use the excel document provided, create a future budget based on provided assumptions and various scenarios. You started your first job post-college at ABC Financial in Cleveland caring $60,000 per year. Using the assumptions below, create your initial monthly budget using the budget worksheet. Any remaining funds should be allocated at your discretion for expenses or savings. It is up to you where you spend your remaining money. Ultimately, any remaining funds not allocated to paying for products or services should be allocated to savings or investments, so that your Net Personal Cash Flow is equal to $0. Case Assumptions: Assume your income is taxed at a flat rate of 25%. You currently have no other sources of income. Your employer offers a Traditional 401(K) plan and you choose to defer 5% of your salary into the retirement plan. Your employer pays 100% for your medical insurance premiums (not likely in real life). You have decided to rent an apartment on the East Bank of the Flats for $1,500 per month Water/trash is included in your rent. Your electric bill is $50 per month. Your gas bill is $30 per month. I Your internet bill is $70 per month. . . . You own a 2010 Honda Civic and you have no monthly payment. Insurance on your car is $75 per month Once you have created your initial budget, update your budget based on the following three scenarios. Keep in mind these scenarios stand alone, so use the initial case to create each scenario, with no carryover between scenarios: Scenario 1: You begin to have mechanical issues with your car and it's time to get a new one. You decide to upgrade the Honda and buy an Audi. The total cost of the Audi after taxes and your down payment is $25,000. You finance the purchase for 6 years at 3% APR. Since this new car is faster and more expensive than your previous one, your insurance goes up to $125 per month. Calculate your new car payment and add it to your budget along with your new insurance payment. You may need to adjust some other areas of your budget to afford the new expense. Scenario 2: You've been working hard, and your new employer is impressed. They decide to give you a $500 per month raise. Congratulations! Update your monthly income to reflect the increase in compensation. Then update your budget to allocate the extra funds you have available to spend each month. Scenario 3: You've been working at ABC Financial for 5 years and your salary is now $90K per year. The extra money has been nice but now you would like to get more serious about saving for retirement. You decide to increase your Traditional 401(k) contribution to the annual max in 2020 (you are under 50). Update your budget to account for the additional monthly savings. You may need to adjust some other areas of your budget to avoid a deficit. The new budgets you create only need to reflect the changes from the specific scenario you are working on. Once you have completed these, answer the reflection questions on the last sheet of the excel document. . . . Question 1: Do you think you could comfortably live on the initial budget you created in this scenario? If you could not, what are some ways you could potentially reduce expenses or increase your income? Question 2: What are some potential expenses that were overlooked in this activity? Question 3: Regarding Scenario 1, explain your rational for the changes you made to the budget. Question 4: Regarding Scenario 2, what if your salary increase was $1,000 more per month versus $500 more per month? What other changes would you make? Question 5: The annual max for 401(k) contributions is likely more than you'd be able to save during the first few years of your career. What do you think is a good amount to put in your 401(k) per year when you're just getting started? Where else could you save/invest money for retirement that is not a 401(k)? . Paste General BI UB A. Merge & Center $ -% 0-0 Undo Clipboard 15 Font Alignment 2 G VIX fx Number G A Foundations of Personal Finance - Case Two: Create A Future Budget B E Initial Monthly Budget Monthly Budget Scenario 1 Monthly Budget Monthly Budget Scenario 2 Scenario 3 Cash Inflows Pre Tax Salary LESS Traditional 401(k) Contribution LESS Taxes Monthly Net Income Total Cash Inflows Cash Outflows Housing Rent Automobile 5 Fuel Tolls/Parlong B Car Maintenance 9 Auto Insurance Car Payment 1 2 Gas 3 Electric 4 Water Case Details Rudnatel 5 Garbage 6 Internet 27 Cell Phone 28 Cable 29 Insurance 30 Lito 31 Health 32 Renters 33 Disability 34 Other Expenses 35 Groceries 36 Dining Out/Bars 37 Coffee Shops 38 Household Itoms 39 Gym Fitness 40 Salon/Barber 41 Clothing 42 Vacation 43 Entertainment 44 Charity 45 Other 46 Other 47 Other 48 Savings 49 Cash Savings 50 Investments 51 Investments Case Details Budget Worksheet Accessibility: Investigate Reflection Questions Ready + you? nything surprise Case Two - Create A Future Budget: Use the excel document provided, create a future budget based on provided assumptions and various scenarios. You started your first job post-college at ABC Financial in Cleveland caring $60,000 per year. Using the assumptions below, create your initial monthly budget using the budget worksheet. Any remaining funds should be allocated at your discretion for expenses or savings. It is up to you where you spend your remaining money. Ultimately, any remaining funds not allocated to paying for products or services should be allocated to savings or investments, so that your Net Personal Cash Flow is equal to $0. Case Assumptions: Assume your income is taxed at a flat rate of 25%. You currently have no other sources of income. Your employer offers a Traditional 401(K) plan and you choose to defer 5% of your salary into the retirement plan. Your employer pays 100% for your medical insurance premiums (not likely in real life). You have decided to rent an apartment on the East Bank of the Flats for $1,500 per month Water/trash is included in your rent. Your electric bill is $50 per month. Your gas bill is $30 per month. I Your internet bill is $70 per month. . . . You own a 2010 Honda Civic and you have no monthly payment. Insurance on your car is $75 per month Once you have created your initial budget, update your budget based on the following three scenarios. Keep in mind these scenarios stand alone, so use the initial case to create each scenario, with no carryover between scenarios: Scenario 1: You begin to have mechanical issues with your car and it's time to get a new one. You decide to upgrade the Honda and buy an Audi. The total cost of the Audi after taxes and your down payment is $25,000. You finance the purchase for 6 years at 3% APR. Since this new car is faster and more expensive than your previous one, your insurance goes up to $125 per month. Calculate your new car payment and add it to your budget along with your new insurance payment. You may need to adjust some other areas of your budget to afford the new expense. Scenario 2: You've been working hard, and your new employer is impressed. They decide to give you a $500 per month raise. Congratulations! Update your monthly income to reflect the increase in compensation. Then update your budget to allocate the extra funds you have available to spend each month. Scenario 3: You've been working at ABC Financial for 5 years and your salary is now $90K per year. The extra money has been nice but now you would like to get more serious about saving for retirement. You decide to increase your Traditional 401(k) contribution to the annual max in 2020 (you are under 50). Update your budget to account for the additional monthly savings. You may need to adjust some other areas of your budget to avoid a deficit. The new budgets you create only need to reflect the changes from the specific scenario you are working on. Once you have completed these, answer the reflection questions on the last sheet of the excel document. . . . Question 1: Do you think you could comfortably live on the initial budget you created in this scenario? If you could not, what are some ways you could potentially reduce expenses or increase your income? Question 2: What are some potential expenses that were overlooked in this activity? Question 3: Regarding Scenario 1, explain your rational for the changes you made to the budget. Question 4: Regarding Scenario 2, what if your salary increase was $1,000 more per month versus $500 more per month? What other changes would you make? Question 5: The annual max for 401(k) contributions is likely more than you'd be able to save during the first few years of your career. What do you think is a good amount to put in your 401(k) per year when you're just getting started? Where else could you save/invest money for retirement that is not a 401(k)? . Paste General BI UB A. Merge & Center $ -% 0-0 Undo Clipboard 15 Font Alignment 2 G VIX fx Number G A Foundations of Personal Finance - Case Two: Create A Future Budget B E Initial Monthly Budget Monthly Budget Scenario 1 Monthly Budget Monthly Budget Scenario 2 Scenario 3 Cash Inflows Pre Tax Salary LESS Traditional 401(k) Contribution LESS Taxes Monthly Net Income Total Cash Inflows Cash Outflows Housing Rent Automobile 5 Fuel Tolls/Parlong B Car Maintenance 9 Auto Insurance Car Payment 1 2 Gas 3 Electric 4 Water Case Details Rudnatel 5 Garbage 6 Internet 27 Cell Phone 28 Cable 29 Insurance 30 Lito 31 Health 32 Renters 33 Disability 34 Other Expenses 35 Groceries 36 Dining Out/Bars 37 Coffee Shops 38 Household Itoms 39 Gym Fitness 40 Salon/Barber 41 Clothing 42 Vacation 43 Entertainment 44 Charity 45 Other 46 Other 47 Other 48 Savings 49 Cash Savings 50 Investments 51 Investments Case Details Budget Worksheet Accessibility: Investigate Reflection Questions Ready +