The semester project will consist of preparing information about what your dream job would look like five years after your education has concluded (the last of the degree and/or certifications activities has completed). The project can be about your dream job and life or what you anticipate doing in reality at this point in your life. Regardless, the project should reflect the application of accurate concepts and principles per this class. Part 1 of 5: Income and other information. This part is worth 10 points of the total 50 points for the project Please indicate the following (each question is worth up to 2 points each). 1. What is your career position and final degree / certification / licensing? 2. What is your income and if you are married or have a partner, the income (if any of your significant other)? 3. Are you responsible for any children? If so, how many? 4. Do you have any pretax deductions from your income? If so, for what and how much? 5. What is your tax liability? Determine your federal, state and local, and social security. For state and local, 5% is fine if you are in Indiana. Please upload this in Excel or Word. Please be careful to arrange everything so I can see your responses through Blackboard. Using a list per above is fine with me. Please consider using Excel and mark each tab for each section of the project so I can look back as we progress through the project. 1 2 3 LOAN AMORTIZATION SCHEDULE ENTER VALUES Loan amount $5,000.00 Annual interest rate 4.00% Loan period in years 1 Number of payments per year 12 Start date of loan 10/1/2020 LOAN SUMMARY Scheduled payment Scheduled number of payments Actual number of payments Total early payments Total interest LENDER NAME $425 75 12 10 $900.00 $8962 7 8 9 10 Optional extra payments $100.00 Woodgrove Bank INTEREST 11 12 13 15 16 17 18 19 20 21 PMT PAYMENT NO DATE 1 10/1/2020 2 11/1/2020 3 12/1/2020 4 1/1/2021 2/1/2021 6 3/1/2021 7 4/1/2021 8 5/1/2021 9 6/1/2021 10 7/1/2021 Loan Schedule BEGINNING BALANCE $5,000.00 $4490 92 $3,000.14 $3.467 65 $2.953.40 $2.43756 $1,919.94 $1,400 59 $879 50 $356 60 SCHEDULED PAYMENT $425 75 $425.75 $425.75 $42575 $42575 $42575 $425 75 $425.75 $425.75 $425.75 EXTRA PAYMENT $100.00 $10000 $100.00 $100.00 $100 00 $100 00 $100.00 $100.00 $100.00 $0.00 TOTAL PAYMENT $525.75 $525.75 $525.75 $525.75 $525.75 $52575 $525.75 $525.75 $525.75 $356 69 PRINCIPAL $509 08 $51078 $51240 $514 19 $515,90 $51762 $519 36 $521.08 $522 82 $35550 $16 67 $1497 $1327 $11.56 $984 $813 $6.40 $4.67 $2.93 $1.19 ENDING CUMULATIVE BALANCE INTEREST $4,490 92 $16.67 $3,980.14 $31.64 $3,40705 $44.90 $2,953.46 $56.46 $2.437.56 56631 $1,919 94 $74 43 $1.400.50 $80.83 $879.50 $85.50 $356.69 $88.43 $0.00.ctivate Wi$89.62 2020 Maximum Social Security Wages $137,700 We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2020, this base is $137,700. The OASDi tax rate for wages paid in 2020 is set by statute at 6.2 percent for employees and employers, each. Contribution and Benefit Base - Social Security The semester project will consist of preparing information about what your dream job would look like five years after your education has concluded (the last of the degree and/or certifications activities has completed). The project can be about your dream job and life or what you anticipate doing in reality at this point in your life. Regardless, the project should reflect the application of accurate concepts and principles per this class. Part 1 of 5: Income and other information. This part is worth 10 points of the total 50 points for the project Please indicate the following (each question is worth up to 2 points each). 1. What is your career position and final degree / certification / licensing? 2. What is your income and if you are married or have a partner, the income (if any of your significant other)? 3. Are you responsible for any children? If so, how many? 4. Do you have any pretax deductions from your income? If so, for what and how much? 5. What is your tax liability? Determine your federal, state and local, and social security. For state and local, 5% is fine if you are in Indiana. Please upload this in Excel or Word. Please be careful to arrange everything so I can see your responses through Blackboard. Using a list per above is fine with me. Please consider using Excel and mark each tab for each section of the project so I can look back as we progress through the project. 1 2 3 LOAN AMORTIZATION SCHEDULE ENTER VALUES Loan amount $5,000.00 Annual interest rate 4.00% Loan period in years 1 Number of payments per year 12 Start date of loan 10/1/2020 LOAN SUMMARY Scheduled payment Scheduled number of payments Actual number of payments Total early payments Total interest LENDER NAME $425 75 12 10 $900.00 $8962 7 8 9 10 Optional extra payments $100.00 Woodgrove Bank INTEREST 11 12 13 15 16 17 18 19 20 21 PMT PAYMENT NO DATE 1 10/1/2020 2 11/1/2020 3 12/1/2020 4 1/1/2021 2/1/2021 6 3/1/2021 7 4/1/2021 8 5/1/2021 9 6/1/2021 10 7/1/2021 Loan Schedule BEGINNING BALANCE $5,000.00 $4490 92 $3,000.14 $3.467 65 $2.953.40 $2.43756 $1,919.94 $1,400 59 $879 50 $356 60 SCHEDULED PAYMENT $425 75 $425.75 $425.75 $42575 $42575 $42575 $425 75 $425.75 $425.75 $425.75 EXTRA PAYMENT $100.00 $10000 $100.00 $100.00 $100 00 $100 00 $100.00 $100.00 $100.00 $0.00 TOTAL PAYMENT $525.75 $525.75 $525.75 $525.75 $525.75 $52575 $525.75 $525.75 $525.75 $356 69 PRINCIPAL $509 08 $51078 $51240 $514 19 $515,90 $51762 $519 36 $521.08 $522 82 $35550 $16 67 $1497 $1327 $11.56 $984 $813 $6.40 $4.67 $2.93 $1.19 ENDING CUMULATIVE BALANCE INTEREST $4,490 92 $16.67 $3,980.14 $31.64 $3,40705 $44.90 $2,953.46 $56.46 $2.437.56 56631 $1,919 94 $74 43 $1.400.50 $80.83 $879.50 $85.50 $356.69 $88.43 $0.00.ctivate Wi$89.62 2020 Maximum Social Security Wages $137,700 We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2020, this base is $137,700. The OASDi tax rate for wages paid in 2020 is set by statute at 6.2 percent for employees and employers, each. Contribution and Benefit Base - Social Security