Please complete the spreadsheet ( only to input items that are in Red)!! And answer the following 5 questions.

The first pic is the instructions! Please help me answer all the red input starting from the second picture!!

You are to respond to the following prompts related to your completion of the spreadsheet: Life After College How do I Fare?

1. How did you determine your annual salary after you graduate for the Annual Income and Taxes spreadsheet? What sources did you use, and did you look at various career options, and use multiple annual salary assumptions?

2. When completing the Projected Budget spreadsheet, what challenges did you face? Was is difficult or easy to pay yourself first with savings for your 401K or additional savings? Why was it difficult or easy?

3. If you have student loans, were you surprised at the monthly debt service payment shown on the Monthly Student Loan Payment spreadsheet? Why were you either surprised or not surprised by the monthly debt service payment?

4. When reviewing the Savings and Investment Growth spreadsheet, how did you perceive the growth of your monthly savings for retirement? Do you think the amount you save will be enough for you during retirement and why do you think that way?

5. How many iterations did you perform on the Life After College How do I Fare? assignment? What was the reason for doing the iterations? What did you learn about your financial planning process?

This is an exercise for you to evaluate your budget after you graduate college, incorporating your projected income, expenses, student loan repayments, taxes, and savings and investments. You are only to input items that are in RED. In order to complete the Life After College exercise, you will be evaluating the following items after you graduate: 1 - Projected annual salary (Sheet: Annual Income and Taxes) 2 - Taxes on your projected annual salary (Sheet: Annual Income and Taxes) 3 - Projected Budget (Sheet: Projected Budget) 4 - Calculate your monthly student loan payment and theses calculations will be incorporated in your budget) (Sheet: Monthly Student Loan Payment) 5 - Determine the amount of savings (and how will you save: i.e. 401K traditional or Roth or after tax investments) (Sheet: Projected Budget) 6 - Calculate the growth of your investments over time assuming an asset allocation mix of investments (Sheet: Savings and Investment Growth) Summary of Results (no inputs as these are claculated form your inputs in the other worksheets) Net Monthly Income REVIEW YOUR BUDGET - YOU ARE IN A DEFICIT!!! Projected Budget Excess/(Deficit) REVIEW YOUR BUDGET - YOU ARE IN A DEFICIT!!! Monthly Student Loan Payments REVIEW YOUR BUDGET - YOU ARE IN A DEFICIT!!! Monthly Savings Total REVIEW YOUR BUDGET - YOU ARE IN A DEFICIT!!! Future Value of Investment Portfolio at Retirement REVIEW YOUR BUDGET - YOU ARE IN A DEFICIT!!! Annual Income and Taxes Calculation Instructions: Input your projected annual salary after you graduate (all other numbers are calculations) Annual Salary 70,000.00 RED INPUT!!! Assumptions: Income Tax Assumptions 2019 Federal Income Tax Table for Unmarried Individuals Unmarried Individuals, Taxable income Tax Rate OYCr 2019 New Jersey Income Tax Table for Unmarried Individuals Unmarried Individuals, Taxable income Tax Rate over 1.75% $ 12% 22% 24% $ $ IS IS 9.700.00 39,475.00 84,200.00 160.325.00 204,100.00 510,300.00 20,000.00 35,000.00 40,000.00 75.000.00 500.000.00 5.33% 6.37% 8.97% 3204 S 35% 37% 2019 itemized Deduction $ 12.200.00 Output (Calculations) Comments Taken from input above S 7 0,000.00 $ (7,000,00) (2,400.00) Gross Income Adjustments to Income 401K or IRA Contribution Medical from company Total Adjustments to Gross Income Adjusted Gross Income Standard Deduction Taxable income Taken from Budget Worksheet Taken from Budget Worksheel (9.400.00) 60.600.00 (12.200.00) Assuming standard deduction (12.2001.001 assuming standard de datos 48,400.00 $ Takes Income Tax Federal Income Tax State Social Security Medicure Thx (6,506.50) (2.316.50) (4,340.00) (1,015.00) Calculated from table a ve: based on taxable income Calculated from table above; based on gross income 62% of Salary: Taxable wage base of 132,900 for 2019 11.45% of Salury (14.178.00) Total Taxes S Total Annual Income After Taxes 34.222.00 Net Monthly Income Csed for Budget Purposes 2.851.83 Monthly Student Loan Payment This spreadsheet will help you calculate the monthly payments for your student loans Instructions: Enter the Amount Borrowed, Annual interest rate and number of years to payoff loan for each loan you have taken for college. If you do not have 5 loans, only put in the information for each loan; RED INPUT!!! $ Loan #1 Amount Borrowed Annual Interest Rate Number of year to payoff loan Calculated monthly payment Inputs 50,000.00 6.00% 10 $555.10 Inputs Loan #2 Amount Borrowed Annual Interest Rate Number of year to payoff loan Calculated monthly payment 0.00% $0.00 Inputs Loan #3 Amount Borrowed Annual Interest Rate Number of year to payoff loan Calculated monthly payment 0.00% $0.00 Inputs Loan #4 Amount Borrowed Annual Interest Rate Number of year to payoff loan Calculated monthly payment 0.00% $0.00 Inputs Loan #5 Amount Borrowed Annual Interest Rate Number of year to payoff loan Calculated monthly payment 0.00% $0.00 TOTAL LOAN MONTHLY PAYMENTS $555.10 Projected Budget Instructions: Choose from the drop down menus that are in RED Net Monthly Income After 401K and other retiement and Medical Expenses 2,851.83 RED INPUT!!! % of Net Monthly Income or Cost per Month Eye Drop Dunya Budget Category Housing Budget Item Comments about choosing from the drop down menus $1,600 Rent Utilities (gas, electric and water) Internet Total Housing S1600 $125 SSO So for having a mommate: S1,600 for no roommate; 1,750 in NYC having a mommate: $3,500 in NYC no roommate SI2s with roommate and $250 for no roommate SSO - Normal Speed. S100 - High Speed $125 SSD $ 1,775.00 Transportation Car Payment Casoline Insurance Maintenance Total Transportation $20x1 - Civic, $350 - Rav 4, S500 - BMW; 50 - No car needed $60 - 8,1K0 miles per year: 5901 - 12,000 miles per year: $120 - 16.000 miles per year; SI) - Na car needed SI70 for Civic or Rav 4; 5250 for BMW; So for no car $300 per year ($25mcat) of you have a car and SO for no car $200 S60 $170 $ 455 Savings $583 401(K) or other retirement Additional Savings Total Savings Enter the percentage of Gross allonthly pay you wish to save (not included in Net Mouilly Licorne Budget (Pre-Tax) Enter the percentage of Cross monthly pay you wish to save Student Loan Payment Calculated Taken from Monthly Student Loan Payment Spreadsheet 5555 Other Expenses $200 S200 $200 $200 $20x1 per month for HMO tyne plan, S400 for PPO Plan, 30 if under parents plan as a student graduate school (not included in et Monthly Income Budget (Pre-Tax) * $200 per month for eating in S300 for cating in and out 2 timers per week, S400 for eating in and out 4 timers per week Your choice - S100. S200, $30,(Por ne fun!) Your choice - $50, S100, S150, S200, 0) (far no fin!) Your choice - $50, $100 $150, S200), 2511, 301), 0 goxid luck!) S30 limited data, SSO unlimited data, S80 unlimited data and always setting the Intestinde SS, $10.S2S. 50. $0 Charity starts at home!!!) S25, SSO, 75, S100, $125, SISO, $175, $200.0 (Watch out!!!) S25, SSO, S75, S100. $125, SISU. $175, 5200,0 (What am I missing! Health Insurance Food Vacation Entertainment (movies, dining out, etc.) Clothing Cell Phone Charitable Contributions Personal Care (ie Hair) Other Total Other Expenses $0 Total Expenses 5 2 ,165.10 Net Monthly Excess (Delicit) CHANGE SOME OF YOUR BUDGET ITEMS AS YOU ARE SPENDING TOO MUCH!!! 5 (213.27) Savings and Investment Growth This spreadsheet will review your savings in both your 401K and other Savings to calculate the growth till retirement $583 Monthly 401K or retirement savings Additional monthly savings Total Monthly Savings Taken from Projected Budget Worksheet Taken from Projected Budget Worksheet SO