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Cost of Living in Miami, FloridaBy: Shannon Cheng & Alice Hsieh

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Location: Miami, Florida

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Total Income: Initial and Post Tax

ALICE HSIEH

Occupation: Lifeguard/BartenderInitial Income: $40,000FICA: $4,183Post-tax: $40,000Total: $35,817

SHANNON CHENG

Occupation: Free-lance tattoo artistInitial Income: $40,000FICA: $4,183Post-tax: $40,000Total: $35,817

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SAVINGS (10% of Adjusted Income)

ALICE HSIEH

$ 3,581Saving's Account at Bank of America: $ 2,581Checking Account at Bank of America: $ 1,000

Remaining Income: $35,817-$2,581 (Savings) = $33,236

SHANNON CHENG

$ 3,581Saving's Account at Bank of America: $ 2,581Checking Account at Bank of America: $ 1,000

Remaining Income: $35,817-$2,581 (Savings) = $33,236

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HOUSING

Address: 1756 North Bayshore Drive

City: Miami,FL Zip Code: 33132Apartment Number: 140 Falstaff

Lease Term: 1 yearDeposit:$750Living Cost: $20,100Renter's Insurance: $263Size: 1,246 Square Feet

1 Story Apartment Ammenities: 2 Bathrooms 2 Bedrooms 2 Baths Walk-in Closests Air-Conditioning Completely furnished

Remaining Income: $33,236 - $375 (Deposit) - $10,050 (Annual Cost) - $131 (Insurance) = $22,680

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HEALTHCARE

ALICE HSIEH$1,332 annually$111/month/per personTraditional Insurance HSA-Compatible Plan 660High Deductible Health Plan%20 Coinsurance for in-network servicesIndividual Coverage

Remaining Income: $22,680 - $1,332 (Healthcare) = $21,348

SHANNON CHENG $1,332 annually

$111/month/per personTraditional Insurance HSA-Compatible Plan 660High Deductible Health Plan%20 Coinsurance for in-network servicesIndividual Coverage

Remaining Income: $22,680 - $1,332 (Healthcare) = $21,348

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TRANSPORATION

Lease for 1 Year per person: $654Car Lease: 2010 Toyota Corolla LE $109/monthCar Insurance: $2,948/yearPrice of Gas per Gallon: $3.57Roughly Estimated 10 gallon usage: $36$1,728 a year for gas per person

Remaining Income: $21,348 - $654 (Lease Payment) - $2,948 (Insurance) - $1,728 (Gas) = $16,018

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UTILITIES

Electricity: included in rentWater: included in rentGas: included in rentPhone: AT&T $26/monthInternet: $14.95/month

Shannon Cheng

Remaining Income: $16,018 - $312 (Phone) - $179.40 (Internet) = $15,526.60

Alice Hsieh

Remaining Income: $16,018 - $312 (Phone) - $179.40 (Internet) = $15,526.60

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FOOD

ALICE HSIEH

$20.00/day$7,300 per year

Remaining Income: $15,526.60 - 7,300(Food) = $8,226.60

SHANNON CHENG

$ 20.00/day$7,300 per day

Remaining Income: $15,526.60 - 7,300(Food) = $8,226.60

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EXTRACURRICULAR ACTIVITIES

ALICE HSIEH

$20.00/day Kayak Rental$7,300 per year

Remaining Income: $8,226.60 - $7,300(Kayak Rental) = $926.60

SHANNON CHENG

$ 20.00/day Karaoke Bar$7,300 per year

Remaining Income: $8,226.60 - $7,300(Karaoke) = $926.60

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Summary

ALICE HSIEH Savings: $2,581 Housing: $10,556 Healthcare: $1,332 Transportation:

$5,330 Utilities: $491.40 Food/Furniture:

$7,300 Extracurricular:

$7,300 Remaining: $926.60

SHANNON CHENG Savings: $2,581 Housing: $10,556 Healthcare: $1,332 Transportation: $5,330 Utilities: $491.40 Food/Furniture: $7,300 Extracurricular: $7,300 Remaining: $926.60

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