Reference no: EM1390277

You have just been notified by the Student Aid and Scholarships Office that you would receive a regentâ€^TMs scholarship of $2000 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 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.