Total deductions from the scholarship and work-study wages

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Reference no: EM13811268

You have just been notified by the student aid and scholarships office that you would receive a regents' scholarship of $2,000 for the coming academic year. Furthermore, your application for a work-study program has also been accepted. You will be allowed to work up to 15 hours a week at an hourly wage rate of $5.00. The academic year has a total of 30 weeks of school. You estimate that the total deductions from the scholarship and work-study wages would be as follows: scholarship, 5 percent handling charges; work -study, 12 percent tax and 5 percent health insurance. Develop a model that will determine your total cash situation during the next academic year, and define all of the model components.

Reference no: EM13811268

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