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Anonymous
more than 1 week ago
Anonymous
more than 1 week ago
Anonymous
Jan 28

Aladin ?

Project1. AtoFantahunisapermanentemployeeofEthio-constractioncompanyearning monthlynetsalaryofBr.9,500. Hehasmonthlypersonalexpendituresasperthefollowingdetailsandthe remainingamountwillbedepositedtohispersonalsavingaccount. Cloth----------------------------------------------15% Food&Beverage--------------------------------20% Medical--------------------------------------------5% Rent------------------------------------------------20% Transport-------------------------------------------2% Education------------------------------------------10% AtoFantahunplanstoopenbarbershopwithacapitalofBr.80,520afteroneyear. Asperhisbusinessplanhiscapitaliscoveredfromhispersonalsavingaccount& theremainingfromAddissaving&creditassociationat8.5%annualinterestrate forthreeyears& theprincipalamountwillbepaidsemi-annuallyatequal installment. Task1.Preparemonthlyandannualbudgetfortheyearconsiderthatthereis nochangeinearningandexpenditures. Task2.Determine; A.TheamountofloanfromAddissaving&creditassociation B.Theamountofprincipal&interestrepaymentforthefirstyear C.Amountofoutstandingprincipalbalanceattheendofthesecondyear Project2. Determinethefollowingconcepts: A.Theimportanceofbudgeting B.Thestepsofpreparingpersonalbudgetandsavingsplan. C.ImportanceofSettingFinancialGoals NB:pleasebeunderstoodthefollowingmessages! o Showallnecessarystepsinyourwork. o Eligiblehandwritinghasitsownvalue. o Afterthedateofsubmission,yourworkwillnothaveacceptance. o SubmittingDatewillbeFebruary3/02/2023 Yourassignmenthaveavalueof30%

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