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Submission Deadline: 5pm Jordan time on June 12, 2023 Please treat it as a take-home exam. I assume you understand financial statements, and you are
Submission Deadline: 5pm Jordan time on June 12, 2023 Please treat it as a take-home exam. I assume you understand financial statements, and you are ready to create them. Therefore, only clarification questions on the problem description will be answered. Problem Description: Please start with the Excel template uploaded in D2L, called "Case Study Template". Please fill in the yellow highlighted cells on all the provided sheets with the following information. 1. Lifetime assumptions: 1) Your financial model starts from 2023 and ends in 2082. 2) You'll work from Jan. 1, 2023 till Dec. 31 of 2052 (i.e., work for 30 years) and then retire. 2. Financial assumptions: 1) Assume that you earn an annual salary of $60k in 2023. This amount is pre-tax (i.e., subject to tax payments). The salary will increase by COLA 2.5% a year, starting 2024. 2) Based on the annual salary, you need to pay social security (6.2% of salary), medicare (1.45% of salary), and 401k contribution (7% of your salary). These numbers, 6.2%, 1.45%, and 7%, are the employee portion. All these expenses are paid only during the work years, so you'll stop paying them upon retirement. 3) As your employer also contributes to
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