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=Picture Practice= **Budget Table**

(Note: You can only view the spreadsheet here. You must enter data from your actual Google Doc spreadsheet.) media type="custom" key="27111584" align="left"

=Getting a Job=

==

= = = = =Taxes=
 * ~ Name of Tax ||~  ||~ Calculation of tax for the year (provide a complete formula for each tax's calculation) ||~   ||~ **Dollar amount of tax** ||~   ||~   ||~   ||
 * **Social Security** ||  || 6.2% x 44,150 ||   || $2,737.30 ||   ||
 * **Medicare** ||  || 1.45% x 44,150 ||   || $640.175 ||
 * **Federal income tax** ||  || 4781 ||   || $4,794 ||
 * **PA income tax** ||  || 3.07% x 44,150 ||   || 1,355.405 ||
 * ||  ||> **Total for //year//:** ||   || $9,526.88 ||
 * ||  || **Total for //each month//:** ||   || $793.90 ||

= = =Retirement Savings=

> I chose the retirement saving rates from the Budget spreadsheet. To help save money, and to help plan to save for the nearby future. > The opportunity cost for my choice would have to be the choices I make. I could've use the amount of money that I have for better and valuable things. Or, put half of my money in the bank and take whatever the amount of money I need from it. > Your responses here: ||
 * ||= **Dollar amount or rate** * ||
 * **__//Gross//__ //__monthly__// income -** || 3679 ||
 * **Retirement savings rate (as a percentage)** || 10% ||
 * **Dollar amount of retirement savings per month (gross monthly *rate = Dollar amount of retirement savings per month).** * || 367.00 ||
 * **Calculate how much money you will have at retirement at age 70 if you invest your budgeted amount at __6%__ yield. Use the compound interest spreadsheet calculator to do this. Assume your starting age is 22. You will need to calculate your annual contribution (principal) by multiplying your monthly retirement savings (above) by 12.** || 1,276,000 ||
 * **Calculate how much money you will have at retirement at age 70 if you invest your budgeted amount at __8%__ yield. Use the compound interest spreadsheet calculator to do this. Assume your starting age is 22. You will need to calculate your annual contribution (principal) by multiplying your monthly retirement savings (above) by 12.** || $2,522,480 ||
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did?**
 * **Respond to these questions in a few well written sentences:**
 * **Why did you select the retirement savings rate that you did?**
 * **What are the opportunity costs for your choice?** *

=Housing= 1 bathroom 447sqft ||  ||
 * Issue || Answers/responses: ||
 * Maximum rent (take home pay * 30%) * || $865.50 ||  ||
 * Monthly rent for your apartment/house: || $800-844 ||  ||
 * Location || King of Prussia, PA ||  ||
 * Amenities (i.e. number of bedrooms, baths, and size in square feet) || 1 bedroom
 * Selling features (What makes this a great apartment?) || This is an apartment called The Lafayette At Valley Forge Park . It is a secure place. This apartment is near Valley Forge National Park and King of Prussia Mall. It is also a 28-54 minutes drive (depends on traffic) from my work place. ||  ||
 * Possible downsides || no ||  ||
 * Parking || Yes, parking lot. ||  ||
 * Included utilities || Water, Electric, Heat, Dishwasher, Laundry facility ||  ||   ||
 * Security deposit requirement || yes ||  ||
 * Restrictions on pets? || None ||  ||
 * Length of lease || 1 year ||



=Transportation= $9,998 || $265.50 ||
 * **Expense** || **Calculation** || **Dollar cost** ||
 * **Payment** || (From the Cars.com online calculator)
 * **Maintenance** || (Three levels of monthly maintenance based on car cost. See instructions above.) || $75.00 ||
 * **Gas** ||  || $88.24 ||
 * || **Monthly total** $428.74 ||

=Insurance=

== = =
 * Utilities **
 * **Utility** || **Calculation** || **Monthly Dollar Cost** ||
 * **Electric** || Online calculator (PDF uploaded to wiki) || $41.51 ||
 * **Water** || $25 per month (if not included in rent) ||  ||
 * **Sewer** || $25 per month (if not included in rent) ||  ||
 * **Trash removal** || $15 per month (if not included in rent) ||  ||
 * || **Monthly total:** || $41.5 ||

=Communications=

Comcast
 * **Service** || **Stand alone or bundled with another?** || **Cost** ||
 * **Cell** ||  || $99.99 ||
 * **Land line** ||  ||   ||
 * **TV** || Bundled $79.99 ||
 * **Internet** ||  ||
 * || **Total monthly cost:** ||

Foods and Drinks- Household Items-
 * Food and Household Item **


 * Miscellaneous **

=Questionnaire and Video= media type="file" key="Economics01.m4a"