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%