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CHAPTER 3Foundations in Personal Finance High SchoolEditionNAME: Matthew MurilloDATE:The Student Budget(1/3)Part 1Directions:Use the attached budget form or the budgeting tool located onfoundationsU.com to cre- ate three zero-based budgets: one for each studentdescribed below and a personal one based on your income (this may include aregular allowance from your parents) and expenses. Fill in all income and expenseson the form with the information provided. Remember to compute net pay by taking20% out for taxes.1Marcus, a high school student, works at a lumberyard making $10.50 an hour. With hisacademic and sports schedule, he is able to work 25 hours a week. He can pick up extrahours, but not consistently. Marcus lives at home, so he has very few bills. He isresponsible for his cell phone bill, which is $65 a month. He pays for his auto insurance,which is $1,200 a year, and he pays for gas, maintenance and repairs on his car. Lastly,