Académique Documents
Professionnel Documents
Culture Documents
by:_SolManuelGarza_
I.OVERVIEW:
A.College:
CollegeandMajor:
UCBerkeley,Bioengineer
Whydoyouchoosethiscollegeandmajor?
IthinkthatUCBerkeleyisthebestchoice.Itisthebestchoicebecauseithasahigh
graduationrateandalowcostof$14,800accordingtoaUCfinancialaidcalculator.
BerkeleyisalsoaUC,whicharepublicresearchbasedinstitutionsthatoftenpartnerwith
scientificorganizationsandcompanies.Finally,UCBerkeleyhasa9.9%rateofreturn,
higherthanbothUCRiversideandStanford.
However,becausemyfamilysIncomeisunder80,000Icanaquirealotoffinancialaid
fromStanford.ThismakesthetotalcostofStanfordminimal,about2,0007,200dollars.
TheproblemwithStanfordisthatithasaverylowacceptancerate.Eventhoughitmay
becheaperafterfinancialaidiscalculated,thelikelihoodofgettingintotheschoolis
verylow.Additionally,Stanfordhasalowerrateofreturn,7.8%.
FinancialAnalysisofCollege:
(InsertyourCollegeComparisonTablefromtheCollege
Decisionactivity)
Option1
Option2
Option3
NameofCollege
UCBerkeley
UCRiverside
Stanford
EstimatedCost
ExpectedFamily
ExpectedFamily
EstimatedParent
Contribution:$14,814
Contribution:$13,758
Contribution2,200
TuitionandFees:
Tuition&Fees:$14836 TuitionandFees:
+$13,432.00
Room&Board$15000 $45,729
Room/Board+$15,422
Books/Supplies$1700
Board$14,107
Books/Supplies$1,240
Other$2800
Personal/Booksand
StickerPrice$32,646.
StickerPrice$34336
Supplies5,064
GiftAid$9,882.00
SelfHelpaid$7,950
Selfhelpaid$5,500
StickerPrice64,900
EstimatedNet
SelfHelpaid$2,200
Cost:$22,764.00
EstimatedNetPrice
7,200
EstimatedParent
Contribution2,200
EstimatedSalary $71457
afterGraduation UCBerkeley
MechanicalEngineer
AverageSalary
$56000
UCRiverside
MechanicalEngineer
AverageSalary
$73520
Stanford
Mechanical
EngineerAverage
Salary
Returnon
9.9%annually
Investment(ROI)
7.3%annually
7.9%annually
GraduationRate
91%
66%
96%
Timeto
Graduate
4years
4years
4years
FinancialAidEstimates:
(InsertyourestimatedFinancialAidtablefromyourPayingfor
Collegeactivity)
Definition
Estimated
Amount
Costof
College
Tuition,Food,Housing,Transportation,
Books,Supplies,Fees
$32646
Scholarships
Ascholarshipisverysimilartoagrantbecausethe
moneydoesnothavetoberepaid.Themaindifference
isthatscholarshipsareprimarilyawardedforacademic
meritorforsomethingyouhaveaccomplished.There
arealsomanyneedbasedscholarships.
http://www.usnews.com/education/blogs/thescholarshi
pcoach/2012/07/19/12collegefinancialaidtermsdefin
ed
WorkStudy
TheFederalWorkStudyprogramprovidesfundsto
eligiblestudentsforparttimeemploymenttohelpfund
college.Inmostcases,theschooloremployerhasto
payupto50percentofthestudent'swages,withthe
federalgovernmentcoveringtherest.Youcouldbe
employedbythecollegeitselforbyafederal,state,or
localpublicagencyaprivatenonprofitorganizationor
$1,465
aprivateforprofitorganization.
http://www.usnews.com/education/blogs/thescholarshi
pcoach/2012/07/19/12collegefinancialaidtermsdefin
ed
Federal
(Direct)
Subsidized
Loans
DirectSubsidizedLoansareavailableonlyto
undergraduatestudentswhoqualify.Yourschool
determinestheamountyoucanborrowbasedon
yourneedandyoucannotexceedthatamount.The
U.S.DepartmentofEducationpaystheinterestona
DirectSubsidizedLoanwhileyoureinschoolatleast
halftime,forthefirstsixmonthsafteryouleave
school(referredtoasagraceperiod*),andduringa
periodofdeferment(apostponementofloan
payments).
https://studentaid.ed.gov/sa/types/loans/subsidizeduns
ubsidized
$5,500
Federal
(Direct)
Unsubsidize
dLoans
DirectUnsubsidizedLoansareavailableto
undergraduateandgraduatestudentsthereisno
requirementtodemonstratefinancialneed.Your
schooldeterminestheamountyoucanborrowbased
onyourcostofattendanceandotherfinancialaidyou
receive.Youareresponsibleforpayingtheinterest
onaDirectUnsubsidizedLoanduringallperiods.If
youchoosenottopaytheinterestwhileyouarein
schoolandduringgraceperiodsanddefermentor
forbearanceperiods,yourinterestwillaccumulate
andyourinterestwillbeaddedtotheprincipal
amountofyourloan.
https://studentaid.ed.gov/sa/types/loans/subsidizeduns
ubsidized
$0
Perkins
Loans
Thesearefederalstudentloanswith5%interestfor
undergraduateandgraduatestudentswithveryhigh
financialneed.NotallschoolsparticipateintheFederal
PerkinsLoanProgram.Youwillmakeyourpaymentsto
theschoolthatmadeyourloanoryourschoolsloan
servicer.Fundsdependonyourfinancialneedandthe
availabilityoffundsatyourcollege.
https://studentaid.ed.gov/sa/types/loans/perkins
$0
PLUSParent
Loans
PLUSloansarefederalloansthatgraduateor
professionaldegreestudentsandparentsofdependent
undergraduatestudentscanusetohelppayeducation
expenses.Inordertotakeoutoneoftheseloansyou
needgoodcredithistory.Themaximumloanamountis
thestudentscostofattendance(determinedbythe
school)minusanyotherfinancialaidreceived.
https://studentaid.ed.gov/sa/types/loans/plus
$0
EFC
(Estimated
Family
Contribution)
Themeasureofhowmuchofyourcollegecostsyour
familyisabletooffer.Thisiscalculatedbasedona
specificformula,whichconsiderstaxedanduntaxed
income,assets,andbenefits,aswellasthesizeofyour
familyandthenumberoffamilymembersattending
collegeduringtheyear.
$11,314
Difference
(Youwill
mostlikely
$32646$182
79=$14367
coverusinga
PrivateLoan)
EstimatedMonthlyPaymentforCollegeLoans:
(InsertthattablefromyourPayingfor
Collegeactivity)
TypeofLoan
Principal(P)
(OriginalLoan
Amount)
(Yearlyloansx
4)
EXAMPLE
$5500x4=
$22000
Federal(Direct)SubsidizedLoans
$5500x4=
$22000
Federal(Direct)UnsubsidizedLoans 0
PerkinsLoans
PLUSParentLoans
PrivateLoans:
Totalforallloans
$14367x4=
$57468
$79468
Monthly
InterestRate
(r)
(Annual
Interest
Rate/12)
Numberof
Monthly
Payments
(n)
(#Years*
12)
3.86%/12
110*12=120
=.0032
4.29%/12=
0.3575%
15*12=180
Monthly
Amount
(Calculate
usingthe
formulafor
anannuity)
(A)
Total
Payments
(A*n)
$221.18 $26,541.60
$165.95 165.95*15=
$2489.25
$0
$0
$0
5.78%/12=15*12=180 478.14
0.4816%
TocalculateMonthlypaymentIusedthisformula:C=(PV*r)/(1(1+r)^n
C=monthlypayment
PV=presentvalue
r=interestrate
n=months
FederalDirectSubsidizedloan:
C=monthlypayment
PV=22000
r=(.0429/12)
n=180
C=(22000*(.0429/12))/(1(1+(.0429/12))^180
C=165.946979
478.14*15=
7172.10
9661.35
C=165.95
Privateloan(SallieMae):
C=monthlypayment
PV=57468
r=(.0578/12)
n=180
C=(57468*(.0578/12))/(1(1+(.0578/12))^180
C=
478.143742165
C=
478.14
B.Career
:
DesiredCareer:CivilEngineer
StartingJobinCareer:
CivilEngineer1,Level1(EntryLevel)
GrossIncome:
$61,641grossincome
EstimatedAnnualTaxes:
(FromCalculatingTaxesactivity)
TaxableIncome:
GrossIncome=61641
Minus6300
616416300=55341
TaxableIncome=$55,341
Federaltax:
Federaltaxrate:25%
Myfederaltaxbracket:$37,451$90,750sotaxdueis$5165.25+25%(taxableincome
$37450)
TaxableIncome=$55,341
$5165.25+25%($55,341$37450)=$6548
Ipay$6548inFederaltaxes.
CaliforniaStatetax:
CaliforniaStatetaxrate:9.30%
MyCaliforniataxbracket:$49,774$254,250sotaxdueis$2191.48+9.30%(taxableincome
$49774)
TaxableIncome=$55,341
$2191.48+9.30%($55,341$49774)=$2647.21
Ipay$2647.21inCaliforniastatetaxes.
FICA:
FICAtaxrate:7.65%
Flattaxrate:7.65%(taxableincome)
TaxableIncome=$55,341
7.65%($55,341)=$4233.59
Ipay$4233.59inFICAtaxes.
TotalTaxes:
$6548+$2647.21+$4233.59=$13428.80
NetIncome:
(SubtractyourEstimatedAnnualTaxesfromyourGrossIncome)
$61641$13428.80=$48,212.20
MathematicalModelforProgressiveTaxTable
(Insertapiecewisefunctionandgraph
thatmodelsthecurrentFederalTaxTableandexplainourProgressiveTaxSystemin
yourownwords.)
Theprogressivetaxsystemtaxespeoplewithdifferentincomesadifferentamountoftaxes.The
lessmoneyyoumake,thelessyouaretaxedandthemoremoneyyoumake,themoreyouare
taxed.Therearedifferenttaxbracketsintheprogressivetaxsystem.Forexample,aperson
whomakesbetween$37,451and$90,750istaxed$5165.25+25%(taxableincome$37450)
butapersonmakingbetween$90,751and$189,300istaxed$18,481.25+28%(taxable
income$90,750).Thissystemexistssothatwecangetmoretaxesoutofpeoplewhomake
moremoneywhilenottakingalloftheincomeofthepoor.
C.SavingsandInvestmentPlan
SHORTTERM(SpendingBucket)
ShortTermGoals:
(Whatdoyouwanttosaveforinthenext6monthsto2yearsand
why?)
IwanttohaveacarbythetimeIam21.AlthoughthatisaninvestmentforsomethingI
want5yearsfromnow,Istillconsideritashortterminvestment.IamwaitinguntilIam21fora
carbecauseofpracticalreasons.First,theinsuranceforteenagersisextremelyexpensive.This
ratestartstogodownalittlebitaroundyour20s.Also,mybrainwillbemoredevelopedwhenI
am21andamstatisticallylesslikelytocrashacarthenthanIamrightnow.Iwantacar
becauseIwillbeabletodrivetocollegeandthentowork.Itismucheasierandlesstime
consumingtodriveacarthantakepublictransportation.
EstimatedMonthlyShortTermInvestmentAmount:
ShortTermInvestments:
(Wherewillyouputthismoneyandwhy?)
ThecarIamgoingtobuyisa2011hondacivic.Iwillmostlikleypaylessthanthisamountfor
thiscarbecauseIwillbuyitused.Justtobeonthesafeside,Iwillsaveforthecarssticker
price$15,805.
IwillputmymoneyinasavingsaccountwithBankofAmerica.InCalifornia,
BankofAmerica'ssavingsaccountinterestrateis3%.Thisinterestrateishigherthan
anyotherbankoffers.Mostofthebankshadsavingaccountinterestratesof1%or
less.Thishigherinterestratewillmakemymonthlypaymentssmaller.
Calculations
FutureValue(FV):
$15,805
InterestRate(r):
3%yearlyor.0025monthly
NumberofMonthsSaving(n):
5yearsor60months
MonthlyContributions(C)
p[(1+r)n
1]
FV=
(r)
p[(1+.0025)60
1]
15805=
(.0025)
p(.1616)
15805=
(.0025)
15805=p(64.64)
64.6464.64
244.51=p
MathematicalModel
(Insertagraphtoshowhowyourmoneyisgrowingoverthe
MONTHS.)
MIDTERM(SavingsBucket)
MidTermGoals:
(Whatdoyouwanttosaveforinthenext320yearsandwhy?This
mightincludeadownpaymentforahome,weddings,orcollegesavingsforyourfuture
children.)
EstimatedMonthlyMidTermInvestmentAmount:
MidTermInvestments:
(Wherewillyouputthismoneyandwhy?)
Calculations
FutureValue(FV):
$476,000
InterestRate(r):
3%yearlyor.0025monthly
NumberofMonthsSaving(n):
years=38or456months
MonthlyContributions
p[(1+r)n
1]
FV=
(r)
p[(1+.0025)456
1]
476000=
(.0025)
p(2.1223)
476000=
(.0025)
476000=p(848.92)
848.92848.92
560.71
=p
Mymonthlycontributionis$
560.71.
MathematicalModel
(Insertagraphtoshowhowyourmoneyisgrowingoverthe
MONTHS.)
LONGTERM(InvestmentBucket)
RetirementGoals:
(Howmuchdoyouwanttohavewhenyouretireandwhy?)
WhenIdidthisworksheetIwastoldthatthewaytocalculatehowmuchmoneyyou
shouldhavewhenyouretireiseighttimesyourlastpaycheck.FidelityBankconductedastudy
andfoundthatifyoudiearoundage92andretireatage67,youwillneedeighttimesyour
salarytolivecomfortablyduringyourretirement.
Icalculatedmylastpaycheckbyusingthecompoundinterestformula.Theworksheet
saidthatIwouldreceivea2.5%raiseeveryyear,fromtheyearIstartmycareer,untilIretire.
Hereisthecalculation:
Iwanttoretireafter40years.sot=40years
A=p(1+r)^t
p=61,641
r=2.5%or0.025
A=61641*(1+.025)^40
FV=165,510.02
MoneyIshouldhavewhenIretire=165,510.02*8=
1324080.16.
DesiredWealth(SavingsandInvestments)AmountatRetirement:
1324080.16
DesiredAgeofRetirement:age65
NumberofYearsWorking:40years
EstimatedMonthlyLongTermInvestmentAmount:
664.70
CalculationsRETIREMENTGOALS
FutureValue(FV):
1324080.16
InterestRate(r):
6%annuallyor.005monthly
NumberofMonthsSaving(n:
40yearsor480months
MonthlyContributions(C):
p[(1+r)
1]
FV=
(r)
p[(1+.005)480
1]
1324080.16
=
(.005)
p[(9.96]
1324080.16
=
(.005)
1324080.16
=p(1992)
19921992
664.70=p
MathematicalModel
(Insertagraphtoshowhowyourmoneyisgrowingoverthe
MONTHS.)
LongTermInvestments:
(Wherewillyouputthismoneyandwhy?)
IhavelowrisktolerancebutatthesametimeIwanttomakealotofmoney.Therefore,Iwill
investinthestocksofsafe,established,companiesandputtherestofmymoneyinbondsand
CertificateofDeposits.ThecompaniesthatIwillinvestinare:ComcastCorporation,TheWalt
DisneyCompanyandTheCocaColaCompany.Theseare3enormouscompaniesthathave
beensteadilybeenmakingmoneyfordecades.
ComcastCorporationscurrentstockpriceis:56.54andisworth147.8billiondollars.
TheWaltDisneyCompanyscurrentstockpriceis:100.29andisworth179.5billiondollars.
TheCocaColascurrentstockpriceis:
39.63
andisworth179.9billiondollars.
Herearethecalculatedvaluesofallofmyinvestments.
STOCKS
(A=amount,P=principal,r=rate,t=time)
Iwillinvest$226.16,or4shares,inComcast,assumingarateofreturnof7%.
A=P(1+r)^t
P=226.16
r=.07
t=40
A=226.16(1+.07)^40
A=
3386.62
After40yearsofinvesting,providedthecompanysrateofreturndoesntchange,Iwillhave
$
3386.62
Iwillinvest$200.58,or2shares,inTheWaltDisneyCompanyassumingarateofreturnof7%.
A=P(1+r)^t
P=200.58
r=.07
t=40
A=200.58(1+.07)^40
A=
3003.58
After40yearsofinvesting,providedthecompanysrateofreturndoesntchange,Iwillhave
$
3003.58.
Iwillinvest$
158.52
intheCocaColaCompany,assumingarateofreturnof7%.
A=P(1+r)^t
P=
158.52
r=.07
t=40
A=1
58.52
(1+.07)^40
A=
2373.75
After40yearsofinvesting,providedthecompanysrateofreturndoesntchange,Iwillhave
$
2373.75
BOND
(A=amount,P=principle,r=rate,t=time)
Iwillput$100inaSeriesISavingsbondwitha1.94%interestrate.
A=P(1+r)^t
P=100
r=.0194
t=40years
A=100(1+.0194)^40
A=
215.67
After40yearsofinvesting,providedthecompanysrateofreturndoesntchange,Iwillhave
$
215.67
.
CertificateofDeposits
(A=amount,P=principal,r=rate,t=time)
Iwillput$100inaNationwideBankCertificateofDepositswitha1.14%interestrate.
A=P(1+r)^t
P=100
r=.0114
t=40years
A=100(1+.0114)^40
A
=
157.36
After40yearsofinvesting,providedthecompanysrateofreturndoesntchange,Iwillhave
$
157.36
.
ThecombinedamountofmoneythatIwillhavefromallofthesedifferenttypesofinvestments,
after40yearsandwithatotalinitialinvestmentof$
785.26acrossallofthedifferentstocks,
bondsandcertificateofdepositsIwillhaveagrandtotalof$9136.98.
Iwillalsoputmoneyinbonds.IwillputmoneyinaSeriesISavingsbond,whichhas1.94%
interestrate.Thisisagovernmentbondthatisprotectedfrominflation.
II.REFLECTION
1. Whatdidyoulearnornoticeasyoucompletedyourfinancialplanandbudget?
IlearnedthatitcanbeastruggletolivecomfortablyevenIfyouhaveagrossannualincomeof
$61,641.Savingisalsohard.Savingjustunder$1,000eachmonthfeelslikewastingmoney
thatIcouldbeusingrightnow.ItishardtosavebecauseoftheimmediateneedsthatIhavebut
theoutcomesareworthit.Also,howmuchmoneyyoureallyhaveiscloselyrelatedtohow
manydebtsyouhavetopayoff.Ifyoudonthaveanydebts$61,641ismorethanenough
moneybutwithpayingbackcollegeloansandotherdebtsitcanbealothardertolive
comfortably.
2. Lookbackthroughalltheactivitiesinthispersonalfinanceproject.Whichactivitydid
youfindthemosthelpfuland/oruseful?Whatdidyoutakeawayfromthisactivity?
IfoundtheSavingsandRetirementPlanincrediblyuseful.BeforeIdidthisactivity,Ihadnever
heardoftheThreeBucketSystemandhadntreallyconsideredsavingalittlebitofmoney
everymonthforalongtermgoal.BeforeIdidthisactivity,myideaofalongterminvestment
wassavingforsomethingbetween6monthsand2yearsinthefuture.Afterthisactivity,I
realizedthat6monthsto2yearsinthefutureisashortterminvestment,alongterminvestment
isforsomething20to60yearsinthefuture.Irealizedthatitispossibletosave,littlebylittle
andthenhaveenoughmoneytoachieveyourgoalofbuyingacar,ahouse,orsavingfor
retirement.Ialsolearnedhowtocalculateannuitiesandcompoundinterest,whichisvery
useful.Thisactivityalsohelpedmetounderstandalotofeconomicterms,thatwereunknown
tomebefore.Forexample,Inowknowwhatacertificateofdepositsisandhowitisdifferent
thanasavingsaccount.
3. Didthisprojectchangeorsolidifyyourviewsabouthowyouwillbehandlingyour
personalfinances,career,collegeorotherfuturedecisions?Pleaseexplain.
Yes.Beforecreatingthisfinancialplan,IhadnoplanofhowIwouldhandlemypersonal
finances.Mymainfocuswastryingtofindoutwhatcollegetogotoandhowtopayforit.Ihad
notreallythoughtofmyqualityoflifeaftergraduating.Now,Iknowhowmyincomewillbetaxed
andhowmyexpenseswilluseupmymoneyeachmonthifIpursuebecomingaCivilEngineer.
IstillwanttobecomeaCivilEngineerbecausetheypayisgood
4. Comparethegrowthofyourmoneybetweentheshortterm,midtermandlongterm
investments.Discusstheeffectsoftimeontheexponentialgrowthofmoney.
Myshortterminvestment,acarthatcosts$11,314.Requiresmetosave$
244.51
eachmonth
for9years.BecausethetimeIwanttohavethemoneysavedissoclosetoshort,interesthasa
smallereffectandthegrowthlooksmorelinearthanexponential.
Mymidterminvestment,a$470,000houserequiresmetosave$560.71for38yearsinorderto
haveenoughmoneytobuythehouse.However,becausesomuchmoretimepassesinterest
accumulatesmoreandthegrowthbeginstolookmoreexponential.
Mylongterminvestment,of$
1324080.16
requiresmetosave$
664.70
for40yearsinorderto
haveenoughmoneytoretirecomfortably.Becausesomuchmoretimepassesinterest
accumulatesmorethegrowthlookslikeanexponentialgraph.
Itiscleartomethatthelongeryousaveyourmoneythemoreyoucantakeadvantageof
exponentialgrowth.Thismakessenseifyoulookatanexponentialgraphwhichstartsoutflat
andverysimilartoalineargraphbuteventuallystartstoshootupandgrowatanenormous
rate..IfIsaved$100eachmonthfor5yearsmygrowthwouldlooklinearbutifIsaved$100for
50yearsmygrowthwouldlookexponential.
5. Reflectontheideaofprivilege.Inlookingatyourcurrentandfuture(planned)
situation,howdoesthiswordapplytoyou?
Myfamilymakesgoodmoney.Wearemiddleclassandcanlivecomfortably.IfIendupwiththe
jobIwant,Iwillcontinuethistrendandendupmakingagoodamountofmoney,atleast
$61,641.Iamluckytohavebeeninasupportivefamilywithenoughmoney.Growingupinthis
environmentmakesiteasiertoachievemygoalsandmakegoodmoneywhenIgrowup.
6. Reflectontheideaofwealthaccumulation.Whatareeffectsofhavingmorevs.less
money(principle)toinvest?Inotherwords,dotherichgetricherandthepoorget
poorer?
Iknewthatthatincomeinequalityandthelackofupwardmobilitymadeitincrediblyhardforthe
poortoachievetheamericandreamwhilesettingupthosewhoarealreadyrichupforsuccess.
Aftercreatingthisfinancialplan,Iamcompletelycertainthatthepoorgetpoorerandtherich
getricher.Youcannotaccumulateanywealthwhenyouarepoorbecauseyouareusingallof
yourmoneytosurvive.Whenyouarerichyoucaninvestyourmoneytomakeevenmore
money.Becausetherichhavetheabilitytosaveandinvesttheywillcontinuetogetricherand
becausethepoordonottheywillcontinuetogetpoorer.
7. Whatdoyouthinkarethefactorstothecurrentstateofwealthdisparitiesinoursociety?
First,theabilitytosaveisnecessarytomakemoremoney.Youcanonlysaveifyouhavea
substantialamountofdisposableincome.Thepeoplewhohaveasubstantialamountof
disposableincomearealreadyrich.Theydonthavetoworryaboutthenecessitieslikeputting
foodonthetableorhavingenoughmoneytobuyanewpairofshoes.Becausetheyalready
havemorethanenoughmoneytomeettheirneedsandlivecomfortably,theycanputtheir
moneyinsavingsaccountsorthestockmarketandmakemoremoney.Iknowfrompersonal
experienceaswellasfromcalculatingtheminimumwagebudgetthatitisliterallyimpossibleto
savemoneywhenyouarestrugglingtomakeendsmeeteveryday.
8. Whatquestionsorwonderingsdoyoustillhaveaboutpersonalfinanceand/orconcepts
ofwealth?Whattopicswouldyouhavelikedtolearnmoreabout?
OnebigunexploredquestionIhaveishowthegovernmentcalculateswelfare.Howmuch
money/EBTdoesthegovernmentgivepeopleandwhatisthissupposedtodo?Manypeople
whoareonwelfareoruseEBTarestillatorbelowthepovertyline.Isthepointofwelfarejustto
preventpeoplefromstarvingorisitsupposedtohelpthemgetoutofpoverty?
III.ATTACHMENTS
MonthlyBudgetSpreadsheet
CalculatingTaxesWorksheet
SavingsandInvestmentSpreadsheets
Definitions(Optional)
Copyandpasteallofthewordsthatyoudefinedinthe
worksheets.