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The following partially completed Excel spreadsheet contains information for computing an annual budget. Assume salary and bonus values are net of taxes and fixed expenses are based on annual salary. Use Excel's Goal Seek to determine what percentage will Ramirez need to save monthly to have $20,000 in his savings account by the end of the year. B 1 Ramirez Monthly Budget 2 3 Variables: 4 Annual salary 54,900.00 $ 5 One-time bonus 10,000.00 6 Fixed expenses 50% 7 Monthly savings 10% 8 Bonus savings 50% 9 10 Annual Estimates 11 Savings 12 Spending money 13 Fixed expenses ped 13 Fixed expenses Multiple Choice 27.32% 10.00% 13.85% 22.39%

The following partially completed Excel spreadsheet contains information for computing an annual budget. Assume salary and bonus values are net of taxes and fixed expenses are based on annual salary. Use Excel's Goal Seek to determine what percentage will Ramirez need to save monthly to have $20,000 in his savings account by the end of the year. B 1 Ramirez Monthly Budget 2 3 Variables: 4 Annual salary 54,900.00 $ 5 One-time bonus 10,000.00 6 Fixed expenses 50% 7 Monthly savings 10% 8 Bonus savings 50% 9 10 Annual Estimates 11 Savings 12 Spending money 13 Fixed expenses ped 13 Fixed expenses Multiple Choice 27.32% 10.00% 13.85% 22.39%

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following partially completed Excel spreadsheet contains information for computing an annual budget. Assume salary and bonus values are net of taxes and fixed expenses are based on annual salary. Use Excel's Goal Seek to determine what percentage will Ramirez need to save monthly to have $20,000 in his savings account by the end of the year. B 1 Ramirez Monthly Budget 2 3 Variables: 4 Annual salary 54,900.00 $ 5 One-time bonus 10,000.00 6 Fixed expenses 50% 7 Monthly savings 10% 8 Bonus savings 50% 9 10 Annual Estimates 11 Savings 12 Spending money 13 Fixed expenses
Transcribed Image Text:The following partially completed Excel spreadsheet contains information for computing an annual budget. Assume salary and bonus values are net of taxes and fixed expenses are based on annual salary. Use Excel's Goal Seek to determine what percentage will Ramirez need to save monthly to have $20,000 in his savings account by the end of the year. B 1 Ramirez Monthly Budget 2 3 Variables: 4 Annual salary 54,900.00 $ 5 One-time bonus 10,000.00 6 Fixed expenses 50% 7 Monthly savings 10% 8 Bonus savings 50% 9 10 Annual Estimates 11 Savings 12 Spending money 13 Fixed expenses
ped 13 Fixed expenses Multiple Choice 27.32% 10.00% 13.85% 22.39%
Transcribed Image Text:ped 13 Fixed expenses Multiple Choice 27.32% 10.00% 13.85% 22.39%
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