Life Got Real Today: A Money Reality CheckAdapted from “Math of the South” by Kristina CaldwellIntroductionHave you ever thought about how much living costs? Have you ever held a discussion with your parents about the bills that they pay every month? Do you believe that the choices you are making today will affect your future? Within this project you will be exploring your possible earnings and creating a budget that could represent your future life. Is the effort you are putting toward school right now exemplary of the lifeyou want to live?Based on your English class average, you will be given a yearly salary. A salary is defined as a fixed regular payment that is usually expressed as an annual sum. For the purposes of this project, the better your grades are, the higher your salary will be. Based on your yearly salary, you will calculate your taxes, housing costs, auto costs including insurance and many other living costs. This project will allow you to truly research the cost of living in today's world. As you proceed through the project, you will learn the true limitations of your yearly salary and hopefully come to appreciate the knowledge of budgeting. You will find thatyou will need to manipulate your budget to afford the needs and wants of your expected lifestyle. You will create a visual to display your work on this project and write a reflection to discuss what you have learned. Youwill also fill out a monthly expenses report where you will keep track of your budget. This project in its entirety must be completed by you and only you. Your yearly salary will not be exactly the same as your peers. Also, anything that you need help with will cost you! As in real life, if you do not know how to do something, you will most likely have to pay someone to do it. For the purpose of this project, every time your teacher or peer helps you, they will charge you $5. You must keep your budget balanced – meaning you cannot spend what you do not have. You must live in Orlando and you must live by yourself (no roommates)! This is a graded assignment. Salary1)You need to know how much money you can spend. Find out your grade from Skyward and record it onthe Monthly Budget Log (1). You will then use the following chart to determine your salary range. Remember, the better your grades are, the more you get paid!Potential Salary ChartGradeSalary RangeGradeSalary RangeGradeSalary Range0 - 59$15,000 -$17,49970 – 73$27,000 -$32,99984 – 86$49,500 -$54,99960 – 63$17,500 -$19,99974 - 76$33,000 -$39,99987 - 89$55,000 -$59,49964 - 66$20,000 -$22,49977 – 79$40,000 -$44,99990 – 93$59,500 -$64,99967 – 69$22,500 -$26,99980 – 83$45,000 -$49,49994 - 100$65,000 -$69,4992)Record your salary range in the Monthly Budget Log.3)Determine the range of your monthly pay by dividing each number of your salary range by 12.4)Determine the range of your weekly pay by dividing each number of your salary range by 52.5)Determine the range of your hourly pay by dividing each number of your weekly pay by 40.