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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$46,992
Monthly savings required$209

How much will it cost to send your child to Durham Technical Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $93,984.50 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $208.85 into a 529 or other college savings plan earning and after tax or tax exempt return of 7% will be necessary to achieve this balance.

Assumptions

Current Annual Cost$19,050.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment2

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $208.85 $0.00 $0.00 $208.85
2 $208.85 $208.85 $0.00 $1.18 $418.88
3 $418.88 $208.85 $0.00 $2.37 $630.10
4 $630.10 $208.85 $0.00 $3.56 $842.51
5 $842.51 $208.85 $0.00 $4.76 $1,056.12
6 $1,056.12 $208.85 $0.00 $5.97 $1,270.94
7 $1,270.94 $208.85 $0.00 $7.19 $1,486.98
8 $1,486.98 $208.85 $0.00 $8.41 $1,704.24
9 $1,704.24 $208.85 $0.00 $9.64 $1,922.73
10 $1,922.73 $208.85 $0.00 $10.87 $2,142.45
11 $2,142.45 $208.85 $0.00 $12.11 $2,363.41
12 $2,363.41 $208.85 $0.00 $13.36 $2,585.62
13 $2,585.62 $208.85 $0.00 $14.62 $2,809.09
14 $2,809.09 $208.85 $0.00 $15.88 $3,033.82
15 $3,033.82 $208.85 $0.00 $17.15 $3,259.82
16 $3,259.82 $208.85 $0.00 $18.43 $3,487.10
17 $3,487.10 $208.85 $0.00 $19.72 $3,715.67
18 $3,715.67 $208.85 $0.00 $21.01 $3,945.53
19 $3,945.53 $208.85 $0.00 $22.31 $4,176.69
20 $4,176.69 $208.85 $0.00 $23.62 $4,409.16
21 $4,409.16 $208.85 $0.00 $24.93 $4,642.94
22 $4,642.94 $208.85 $0.00 $26.25 $4,878.04
23 $4,878.04 $208.85 $0.00 $27.58 $5,114.47
24 $5,114.47 $208.85 $0.00 $28.92 $5,352.24
25 $5,352.24 $208.85 $0.00 $30.26 $5,591.35
26 $5,591.35 $208.85 $0.00 $31.61 $5,831.81
27 $5,831.81 $208.85 $0.00 $32.97 $6,073.63
28 $6,073.63 $208.85 $0.00 $34.34 $6,316.82
29 $6,316.82 $208.85 $0.00 $35.72 $6,561.39
30 $6,561.39 $208.85 $0.00 $37.10 $6,807.34
31 $6,807.34 $208.85 $0.00 $38.49 $7,054.68
32 $7,054.68 $208.85 $0.00 $39.89 $7,303.42
33 $7,303.42 $208.85 $0.00 $41.29 $7,553.56
34 $7,553.56 $208.85 $0.00 $42.71 $7,805.12
35 $7,805.12 $208.85 $0.00 $44.13 $8,058.10
36 $8,058.10 $208.85 $0.00 $45.56 $8,312.51
37 $8,312.51 $208.85 $0.00 $47.00 $8,568.36
38 $8,568.36 $208.85 $0.00 $48.45 $8,825.66
39 $8,825.66 $208.85 $0.00 $49.90 $9,084.41
40 $9,084.41 $208.85 $0.00 $51.36 $9,344.62
41 $9,344.62 $208.85 $0.00 $52.84 $9,606.31
42 $9,606.31 $208.85 $0.00 $54.32 $9,869.48
43 $9,869.48 $208.85 $0.00 $55.80 $10,134.13
44 $10,134.13 $208.85 $0.00 $57.30 $10,400.28
45 $10,400.28 $208.85 $0.00 $58.80 $10,667.93
46 $10,667.93 $208.85 $0.00 $60.32 $10,937.10
47 $10,937.10 $208.85 $0.00 $61.84 $11,207.79
48 $11,207.79 $208.85 $0.00 $63.37 $11,480.01
49 $11,480.01 $208.85 $0.00 $64.91 $11,753.77
50 $11,753.77 $208.85 $0.00 $66.46 $12,029.08
51 $12,029.08 $208.85 $0.00 $68.01 $12,305.94
52 $12,305.94 $208.85 $0.00 $69.58 $12,584.37
53 $12,584.37 $208.85 $0.00 $71.15 $12,864.37
54 $12,864.37 $208.85 $0.00 $72.74 $13,145.96
55 $13,145.96 $208.85 $0.00 $74.33 $13,429.14
56 $13,429.14 $208.85 $0.00 $75.93 $13,713.92
57 $13,713.92 $208.85 $0.00 $77.54 $14,000.31
58 $14,000.31 $208.85 $0.00 $79.16 $14,288.32
59 $14,288.32 $208.85 $0.00 $80.79 $14,577.96
60 $14,577.96 $208.85 $0.00 $82.43 $14,869.24
61 $14,869.24 $208.85 $0.00 $84.07 $15,162.16
62 $15,162.16 $208.85 $0.00 $85.73 $15,456.74
63 $15,456.74 $208.85 $0.00 $87.39 $15,752.98
64 $15,752.98 $208.85 $0.00 $89.07 $16,050.90
65 $16,050.90 $208.85 $0.00 $90.75 $16,350.50
66 $16,350.50 $208.85 $0.00 $92.45 $16,651.80
67 $16,651.80 $208.85 $0.00 $94.15 $16,954.80
68 $16,954.80 $208.85 $0.00 $95.86 $17,259.51
69 $17,259.51 $208.85 $0.00 $97.59 $17,565.95
70 $17,565.95 $208.85 $0.00 $99.32 $17,874.12
71 $17,874.12 $208.85 $0.00 $101.06 $18,184.03
72 $18,184.03 $208.85 $0.00 $102.82 $18,495.70
73 $18,495.70 $208.85 $0.00 $104.58 $18,809.13
74 $18,809.13 $208.85 $0.00 $106.35 $19,124.33
75 $19,124.33 $208.85 $0.00 $108.13 $19,441.31
76 $19,441.31 $208.85 $0.00 $109.92 $19,760.08
77 $19,760.08 $208.85 $0.00 $111.73 $20,080.66
78 $20,080.66 $208.85 $0.00 $113.54 $20,403.05
79 $20,403.05 $208.85 $0.00 $115.36 $20,727.26
80 $20,727.26 $208.85 $0.00 $117.19 $21,053.30
81 $21,053.30 $208.85 $0.00 $119.04 $21,381.19
82 $21,381.19 $208.85 $0.00 $120.89 $21,710.93
83 $21,710.93 $208.85 $0.00 $122.76 $22,042.54
84 $22,042.54 $208.85 $0.00 $124.63 $22,376.02
85 $22,376.02 $208.85 $0.00 $126.52 $22,711.39
86 $22,711.39 $208.85 $0.00 $128.41 $23,048.65
87 $23,048.65 $208.85 $0.00 $130.32 $23,387.82
88 $23,387.82 $208.85 $0.00 $132.24 $23,728.91
89 $23,728.91 $208.85 $0.00 $134.17 $24,071.93
90 $24,071.93 $208.85 $0.00 $136.11 $24,416.89
91 $24,416.89 $208.85 $0.00 $138.06 $24,763.80
92 $24,763.80 $208.85 $0.00 $140.02 $25,112.67
93 $25,112.67 $208.85 $0.00 $141.99 $25,463.51
94 $25,463.51 $208.85 $0.00 $143.97 $25,816.33
95 $25,816.33 $208.85 $0.00 $145.97 $26,171.15
96 $26,171.15 $208.85 $0.00 $147.98 $26,527.98
97 $26,527.98 $208.85 $0.00 $149.99 $26,886.82
98 $26,886.82 $208.85 $0.00 $152.02 $27,247.69
99 $27,247.69 $208.85 $0.00 $154.06 $27,610.60
100 $27,610.60 $208.85 $0.00 $156.11 $27,975.56
101 $27,975.56 $208.85 $0.00 $158.18 $28,342.59
102 $28,342.59 $208.85 $0.00 $160.25 $28,711.69
103 $28,711.69 $208.85 $0.00 $162.34 $29,082.88
104 $29,082.88 $208.85 $0.00 $164.44 $29,456.17
105 $29,456.17 $208.85 $0.00 $166.55 $29,831.57
106 $29,831.57 $208.85 $0.00 $168.67 $30,209.09
107 $30,209.09 $208.85 $0.00 $170.81 $30,588.75
108 $30,588.75 $208.85 $0.00 $172.95 $30,970.55
109 $30,970.55 $208.85 $0.00 $175.11 $31,354.51
110 $31,354.51 $208.85 $0.00 $177.28 $31,740.64
111 $31,740.64 $208.85 $0.00 $179.47 $32,128.96
112 $32,128.96 $208.85 $0.00 $181.66 $32,519.47
113 $32,519.47 $208.85 $0.00 $183.87 $32,912.19
114 $32,912.19 $208.85 $0.00 $186.09 $33,307.13
115 $33,307.13 $208.85 $0.00 $188.32 $33,704.30
116 $33,704.30 $208.85 $0.00 $190.57 $34,103.72
117 $34,103.72 $208.85 $0.00 $192.83 $34,505.40
118 $34,505.40 $208.85 $0.00 $195.10 $34,909.35
119 $34,909.35 $208.85 $0.00 $197.38 $35,315.58
120 $35,315.58 $208.85 $0.00 $199.68 $35,724.11
121 $35,724.11 $208.85 $0.00 $201.99 $36,134.95
122 $36,134.95 $208.85 $0.00 $204.31 $36,548.11
123 $36,548.11 $208.85 $0.00 $206.65 $36,963.61
124 $36,963.61 $208.85 $0.00 $209.00 $37,381.46
125 $37,381.46 $208.85 $0.00 $211.36 $37,801.67
126 $37,801.67 $208.85 $0.00 $213.74 $38,224.26
127 $38,224.26 $208.85 $0.00 $216.13 $38,649.24
128 $38,649.24 $208.85 $0.00 $218.53 $39,076.62
129 $39,076.62 $208.85 $0.00 $220.94 $39,506.41
130 $39,506.41 $208.85 $0.00 $223.37 $39,938.63
131 $39,938.63 $208.85 $0.00 $225.82 $40,373.30
132 $40,373.30 $208.85 $0.00 $228.28 $40,810.43
133 $40,810.43 $208.85 $0.00 $230.75 $41,250.03
134 $41,250.03 $208.85 $0.00 $233.23 $41,692.11
135 $41,692.11 $208.85 $0.00 $235.73 $42,136.69
136 $42,136.69 $208.85 $0.00 $238.25 $42,583.79
137 $42,583.79 $208.85 $0.00 $240.77 $43,033.41
138 $43,033.41 $208.85 $0.00 $243.32 $43,485.58
139 $43,485.58 $208.85 $0.00 $245.87 $43,940.30
140 $43,940.30 $208.85 $0.00 $248.44 $44,397.59
141 $44,397.59 $208.85 $0.00 $251.03 $44,857.47
142 $44,857.47 $208.85 $0.00 $253.63 $45,319.95
143 $45,319.95 $208.85 $0.00 $256.25 $45,785.05
144 $45,785.05 $208.85 $0.00 $258.88 $46,252.78
145 $46,252.78 $208.85 $0.00 $261.52 $46,723.15
146 $46,723.15 $208.85 $0.00 $264.18 $47,196.18
147 $47,196.18 $208.85 $0.00 $266.85 $47,671.88
148 $47,671.88 $208.85 $0.00 $269.54 $48,150.27
149 $48,150.27 $208.85 $0.00 $272.25 $48,631.37
150 $48,631.37 $208.85 $0.00 $274.97 $49,115.19
151 $49,115.19 $208.85 $0.00 $277.70 $49,601.74
152 $49,601.74 $208.85 $0.00 $280.46 $50,091.05
153 $50,091.05 $208.85 $0.00 $283.22 $50,583.12
154 $50,583.12 $208.85 $0.00 $286.00 $51,077.97
155 $51,077.97 $208.85 $0.00 $288.80 $51,575.62
156 $51,575.62 $208.85 $0.00 $291.62 $52,076.09
157 $52,076.09 $208.85 $0.00 $294.45 $52,579.39
158 $52,579.39 $208.85 $0.00 $297.29 $53,085.53
159 $53,085.53 $208.85 $0.00 $300.15 $53,594.53
160 $53,594.53 $208.85 $0.00 $303.03 $54,106.41
161 $54,106.41 $208.85 $0.00 $305.93 $54,621.19
162 $54,621.19 $208.85 $0.00 $308.84 $55,138.88
163 $55,138.88 $208.85 $0.00 $311.76 $55,659.49
164 $55,659.49 $208.85 $0.00 $314.71 $56,183.05
165 $56,183.05 $208.85 $0.00 $317.67 $56,709.57
166 $56,709.57 $208.85 $0.00 $320.64 $57,239.06
167 $57,239.06 $208.85 $0.00 $323.64 $57,771.55
168 $57,771.55 $208.85 $0.00 $326.65 $58,307.05
169 $58,307.05 $208.85 $0.00 $329.68 $58,845.58
170 $58,845.58 $208.85 $0.00 $332.72 $59,387.15
171 $59,387.15 $208.85 $0.00 $335.78 $59,931.78
172 $59,931.78 $208.85 $0.00 $338.86 $60,479.49
173 $60,479.49 $208.85 $0.00 $341.96 $61,030.30
174 $61,030.30 $208.85 $0.00 $345.07 $61,584.22
175 $61,584.22 $208.85 $0.00 $348.21 $62,141.28
176 $62,141.28 $208.85 $0.00 $351.36 $62,701.49
177 $62,701.49 $208.85 $0.00 $354.52 $63,264.86
178 $63,264.86 $208.85 $0.00 $357.71 $63,831.42
179 $63,831.42 $208.85 $0.00 $360.91 $64,401.18
180 $64,401.18 $208.85 $0.00 $364.13 $64,974.16
181 $64,974.16 $208.85 $0.00 $367.37 $65,550.38
182 $65,550.38 $208.85 $0.00 $370.63 $66,129.86
183 $66,129.86 $208.85 $0.00 $373.91 $66,712.62
184 $66,712.62 $208.85 $0.00 $377.20 $67,298.67
185 $67,298.67 $208.85 $0.00 $380.52 $67,888.04
186 $67,888.04 $208.85 $0.00 $383.85 $68,480.74
187 $68,480.74 $208.85 $0.00 $387.20 $69,076.79
188 $69,076.79 $208.85 $0.00 $390.57 $69,676.21
189 $69,676.21 $208.85 $0.00 $393.96 $70,279.02
190 $70,279.02 $208.85 $0.00 $397.37 $70,885.24
191 $70,885.24 $208.85 $0.00 $400.80 $71,494.89
192 $71,494.89 $208.85 $0.00 $404.24 $72,107.98
193 $72,107.98 $208.85 $0.00 $407.71 $72,724.54
194 $72,724.54 $208.85 $0.00 $411.20 $73,344.59
195 $73,344.59 $208.85 $0.00 $414.70 $73,968.14
196 $73,968.14 $208.85 $0.00 $418.23 $74,595.22
197 $74,595.22 $208.85 $0.00 $421.77 $75,225.84
198 $75,225.84 $208.85 $0.00 $425.34 $75,860.03
199 $75,860.03 $208.85 $0.00 $428.92 $76,497.80
200 $76,497.80 $208.85 $0.00 $432.53 $77,139.18
201 $77,139.18 $208.85 $0.00 $436.16 $77,784.19
202 $77,784.19 $208.85 $0.00 $439.80 $78,432.84
203 $78,432.84 $208.85 $0.00 $443.47 $79,085.16
204 $79,085.16 $208.85 $0.00 $447.16 $79,741.17
205 $79,741.17 $208.85 $0.00 $450.87 $80,400.89
206 $80,400.89 $208.85 $0.00 $454.60 $81,064.34
207 $81,064.34 $208.85 $0.00 $458.35 $81,731.54
208 $81,731.54 $208.85 $0.00 $462.12 $82,402.51
209 $82,402.51 $208.85 $0.00 $465.92 $83,077.28
210 $83,077.28 $208.85 $0.00 $469.73 $83,755.86
211 $83,755.86 $208.85 $0.00 $473.57 $84,438.28
212 $84,438.28 $208.85 $0.00 $477.43 $85,124.56
213 $85,124.56 $208.85 $0.00 $481.31 $85,814.72
214 $85,814.72 $208.85 $0.00 $485.21 $86,508.78
215 $86,508.78 $208.85 $0.00 $489.13 $87,206.76
216 $87,206.76 $208.85 $0.00 $493.08 $87,908.69
217 $87,908.69 $208.85 $45,846.10 $497.05 $42,768.49
218 $42,768.49 $208.85 $0.00 $241.82 $43,219.16
219 $43,219.16 $208.85 $0.00 $244.37 $43,672.38
220 $43,672.38 $208.85 $0.00 $246.93 $44,128.16
221 $44,128.16 $208.85 $0.00 $249.51 $44,586.52
222 $44,586.52 $208.85 $0.00 $252.10 $45,047.47
223 $45,047.47 $208.85 $0.00 $254.70 $45,511.02
224 $45,511.02 $208.85 $0.00 $257.33 $45,977.20
225 $45,977.20 $208.85 $0.00 $259.96 $46,446.01
226 $46,446.01 $208.85 $0.00 $262.61 $46,917.47
227 $46,917.47 $208.85 $0.00 $265.28 $47,391.60
228 $47,391.60 $208.85 $0.00 $267.96 $47,868.41
229 $47,868.41 $0.00 $48,138.40 $270.65 $0.66