     WHERE DOES YOUR MONEY GO STUDENT ORGANIZER Do the following computations based on the information about taxes and earnings in the Pay Stub Example. Write your answers in the space provided. The percentage of gross earnings paid in taxes = total taxes/gross earnings The percentage of the federal taxable gross paid in taxes = total taxes/federal taxable gross The percentage of gross earnings that is the net pay = net pay/gross earnings. Based on the tax rate from the 1.a. total taxes/federal taxable gross equation, compute the amount of taxes that would have been paid if there were no deductions. Write your answers in the space provided. Tax rate with deductions = total taxes/federal taxable gross Taxes paid without deductions = (total taxes/federal taxable gross) x gross earnings Compare the total taxes number from the pay stub to the answer you got in the previous question. Create a spreadsheet with different scenarios that calculate a) taxes paid over 30 years with deductions; b) taxes paid over 30 years without deductions; and c) how much an investment account can grow over 30 years. Write your answers in the space provided. To create the spreadsheet do the following: Column A, Rows 1-30: Multiply the "total taxes" number by 52 (since the payments are weekly) to get the full-year amount. Put that number in each of the 30 cells. Compute the total (the formula to put in cell A31 is "=sum(A1:A30)." Column B, Rows 1-30: Number from 2.b. above, multiplied by 52, in each of the 30 cells. Compute the total (the formula to put in cell B31 is "=sum(B1:B30)." Column C, Rows 1-30: Multiply the 401(k) deduction total by 52 to get the full-year amount. Put that total in the first cell (1C). Then copy the following formula through the following 29 cells in that column: "=(C1*1.05)+1560." The final cell will have the culminated investment earnings from 30 years of 401(k) savings with a 5% return, or interest rate. NOTE: The above equation adds 5% to the previous cell's total, representing a 5% gain in interest in the 401(k) account. Then it adds that year's contribution to the previous year's contribution plus interest gain.    