egan works part time at the city hospital and earns around $800 per month. Scholarships cover most of her nursing chool tuition, but she has one small loan to cover what scholarships don't. Fortunately, she doesn't have to start aying back the loan until after graduation. Currently, her only out-of-pocket school expenses for each of the two emesters are about $700 for books, which she buys used whenever possible. Regan lives with her aunt, which minimizes her expenses, but she still has to pay for some things. Because she knew the'd be living 10 miles from campus, she saved money from her summer job, birthdays and holidays and bought a car before she left for school. She doesn't have to pay for public transportation or make a car payment, but she does have to pay $115 a month for car insurance and another $35 twice a month for gas. Regan doesn't pay rent but does buy some groceries to share and all of her own personal care items, such as shampoo, toothpaste, and eye drops, which come to about $140 each month. For now, Regan is using her family's old computer, but it's pretty outdated and needs to be replaced. She's trying to save $750 to purchase a new computer next year. Because her job and school keep her so busy, Regan looks forward to the oceasional night out with friends for dinner and a movie. She tries to limit these outings to once a week and her spending to around $20 each time. She loves clothes but tries to limit herself to one big shopping trip each of the four seasons with a shopping limit of $200 each time. Regan, like almost everyone she knows, is pretty much glued to her phone when she's not working or at school, so she sees her $75/ month unlimited text and data plan as non-negotiable. Finally, Regan knows that after college she really wants to move to a big city near an ocean, maybe San Francisco or Boston, and that moving and an apartment deposit are expensive. To make her dream come true, she saves a little each month from her job and much of the extra money from working full-time and overtime during the summer. She knows saving is important and put this money directly into a special savings account. Instructions: 1. Create an annual budget with cash flows for Regan. Use Excel and make sure to label the categories. 2. Then answer the following questions in Excel (You can type answers below the Cash Flow Statement): Q1 Based on the budget information you entered into the spreadsheet, how much money does Regan have leftover to split between saving for a new computer and saving to move after college? Q2 What amount would Regan have left to save if she were to go out twice a week instead of once? Update your
