1. Fill out the following budget worksheet for Molly so that she can project her income and expenses for an average month and for a year. Separate the fixed and variable expenses. Record both monthly and yearly amounts. Two semesters is equal to one year. Write amounts to the nearest whole dollar. For example, $19.33 would round to $19 on the budget sheet. Enter a zero in each category that has no amount.
2. Write a paragraph that describes Molly’s cash flow position. In the paragraph, answer these questions: Will she have to borrow money? Will she be debt free when she transfers to a four-year college as a junior? What are some things that could happen that would significantly change the projected budget?
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