Question

You are to prepare ​1 workbook​ to calculate the income received both from sponsors and the payment of fees by members, based on the following guidelines:

Answer 1

The workbook for calculating income from sponsors and member fees in a Business context at the College level involves calculations of Net Annual and Monthly Income after deductions and finding the best option for financial decisions based on budgeted monthly expenses.

Step-by-step explanation:

To address the question of preparing a workbook for calculating income from sponsors and fees by members, you will likely be dealing with a series of financial calculations. This falls under the subject of Business, and the level of coursework suggests that it is appropriate for College students.

Calculation of Net Annual Income involves subtracting taxes, social security, and medicare from the gross income. Monthly income can then be derived by dividing the net annual income by 12. When assessing Peter's best option, consider his budgeted monthly expenses in the context of his after-tax income.

Steps to consider in the workbook may include:

1. Listing all job positions and their respective gross incomes
2. Deducting taxes, social security, and medicare to arrive at the net annual income (row number 3)
3. Calculating the monthly income for each position by dividing the net annual income by 12 (record in row number 4)
4. Analyzing Peter's financial situation to decide the best option considering his potential income and monthly expenses

To calculate the present discounted value of future profits, as shown in Table C1, you would apply the formula provided for each time period when profits are expected to be received.