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Simplified College Cost Worksheet Calculate approximate monthly...

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Simplified College Cost Worksheet Calculate approximate monthly...

Simplified College Cost Worksheet

Calculate approximate monthly amount to invest at the beginning of the period. Round the final answer to two decimals. Please note that intermediate steps should be calculated to at least 4 decimals to get the answer correctly.

Assume the following information for your client

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Child's AGE 3 Years to college 18-(Step 1} Annual College Costs [current dollars) Assumed College Inflation rate $43,342 4.9% College Inflation Factor. Calculate as {1+Step 4]"(Step 2] [1+Step 4]"(Step 2} Estimate Future Annual Costs Calculate as Estimated Total Future Costs [Step 6*] years in college 4 (Step 3" Step 5] or use FV formula in Excel or financial calculator Step 6*years in college Funding requirements Assumed after-tax return PV Factor 12.0% 1fl1+Step 8)"Step 2 Total Lump-Sum Investment Currently Required Step 7*Step 9 or use PV formula in Excel or financial calculator Amount already earmarked for education $28,817 Additional Limp-Sum funding required Years of funding Step 10-Step 11 Move to Step 15 to use Excel 14 PVIFA Due . . or financial calculator (Step 12*Step 14) or use 15 Annual target amount to invest formula PMT in Excel or financial calculator Approximate monthly amount to invest (Step 15)f12 months ...

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