Savings Plan and Future Cost Estimation for Lyme Academy College of Fine Arts

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$111,298
Monthly savings required$881

How much will it cost to send your child to Lyme Academy College of Fine Arts in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $445,191.48 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $881.01 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$42,919.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $881.01 $0.00 $0.00 $881.01
2 $881.01 $881.01 $0.00 $4.98 $1,767.00
3 $1,767.00 $881.01 $0.00 $9.99 $2,658.00
4 $2,658.00 $881.01 $0.00 $15.03 $3,554.04
5 $3,554.04 $881.01 $0.00 $20.10 $4,455.15
6 $4,455.15 $881.01 $0.00 $25.19 $5,361.35
7 $5,361.35 $881.01 $0.00 $30.31 $6,272.67
8 $6,272.67 $881.01 $0.00 $35.47 $7,189.15
9 $7,189.15 $881.01 $0.00 $40.65 $8,110.81
10 $8,110.81 $881.01 $0.00 $45.86 $9,037.68
11 $9,037.68 $881.01 $0.00 $51.10 $9,969.79
12 $9,969.79 $881.01 $0.00 $56.37 $10,907.17
13 $10,907.17 $881.01 $0.00 $61.67 $11,849.85
14 $11,849.85 $881.01 $0.00 $67.00 $12,797.86
15 $12,797.86 $881.01 $0.00 $72.36 $13,751.23
16 $13,751.23 $881.01 $0.00 $77.75 $14,709.99
17 $14,709.99 $881.01 $0.00 $83.17 $15,674.17
18 $15,674.17 $881.01 $0.00 $88.62 $16,643.80
19 $16,643.80 $881.01 $0.00 $94.11 $17,618.92
20 $17,618.92 $881.01 $0.00 $99.62 $18,599.55
21 $18,599.55 $881.01 $0.00 $105.16 $19,585.72
22 $19,585.72 $881.01 $0.00 $110.74 $20,577.47
23 $20,577.47 $881.01 $0.00 $116.35 $21,574.83
24 $21,574.83 $881.01 $0.00 $121.99 $22,577.83
25 $22,577.83 $881.01 $0.00 $127.66 $23,586.50
26 $23,586.50 $881.01 $0.00 $133.36 $24,600.87
27 $24,600.87 $881.01 $0.00 $139.10 $25,620.98
28 $25,620.98 $881.01 $0.00 $144.86 $26,646.85
29 $26,646.85 $881.01 $0.00 $150.67 $27,678.53
30 $27,678.53 $881.01 $0.00 $156.50 $28,716.04
31 $28,716.04 $881.01 $0.00 $162.36 $29,759.41
32 $29,759.41 $881.01 $0.00 $168.26 $30,808.68
33 $30,808.68 $881.01 $0.00 $174.20 $31,863.89
34 $31,863.89 $881.01 $0.00 $180.16 $32,925.06
35 $32,925.06 $881.01 $0.00 $186.16 $33,992.23
36 $33,992.23 $881.01 $0.00 $192.20 $35,065.44
37 $35,065.44 $881.01 $0.00 $198.27 $36,144.72
38 $36,144.72 $881.01 $0.00 $204.37 $37,230.10
39 $37,230.10 $881.01 $0.00 $210.50 $38,321.61
40 $38,321.61 $881.01 $0.00 $216.68 $39,419.30
41 $39,419.30 $881.01 $0.00 $222.88 $40,523.19
42 $40,523.19 $881.01 $0.00 $229.12 $41,633.32
43 $41,633.32 $881.01 $0.00 $235.40 $42,749.73
44 $42,749.73 $881.01 $0.00 $241.71 $43,872.45
45 $43,872.45 $881.01 $0.00 $248.06 $45,001.52
46 $45,001.52 $881.01 $0.00 $254.45 $46,136.98
47 $46,136.98 $881.01 $0.00 $260.87 $47,278.86
48 $47,278.86 $881.01 $0.00 $267.32 $48,427.19
49 $48,427.19 $881.01 $0.00 $273.81 $49,582.01
50 $49,582.01 $881.01 $0.00 $280.34 $50,743.36
51 $50,743.36 $881.01 $0.00 $286.91 $51,911.28
52 $51,911.28 $881.01 $0.00 $293.51 $53,085.80
53 $53,085.80 $881.01 $0.00 $300.15 $54,266.96
54 $54,266.96 $881.01 $0.00 $306.83 $55,454.80
55 $55,454.80 $881.01 $0.00 $313.55 $56,649.36
56 $56,649.36 $881.01 $0.00 $320.30 $57,850.67
57 $57,850.67 $881.01 $0.00 $327.10 $59,058.78
58 $59,058.78 $881.01 $0.00 $333.93 $60,273.72
59 $60,273.72 $881.01 $0.00 $340.80 $61,495.53
60 $61,495.53 $881.01 $0.00 $347.70 $62,724.24
61 $62,724.24 $881.01 $0.00 $354.65 $63,959.90
62 $63,959.90 $881.01 $0.00 $361.64 $65,202.55
63 $65,202.55 $881.01 $0.00 $368.66 $66,452.22
64 $66,452.22 $881.01 $0.00 $375.73 $67,708.96
65 $67,708.96 $881.01 $0.00 $382.84 $68,972.81
66 $68,972.81 $881.01 $0.00 $389.98 $70,243.80
67 $70,243.80 $881.01 $0.00 $397.17 $71,521.98
68 $71,521.98 $881.01 $0.00 $404.40 $72,807.39
69 $72,807.39 $881.01 $0.00 $411.66 $74,100.06
70 $74,100.06 $881.01 $0.00 $418.97 $75,400.04
71 $75,400.04 $881.01 $0.00 $426.32 $76,707.37
72 $76,707.37 $881.01 $0.00 $433.71 $78,022.09
73 $78,022.09 $881.01 $0.00 $441.15 $79,344.25
74 $79,344.25 $881.01 $0.00 $448.62 $80,673.88
75 $80,673.88 $881.01 $0.00 $456.14 $82,011.03
76 $82,011.03 $881.01 $0.00 $463.70 $83,355.74
77 $83,355.74 $881.01 $0.00 $471.31 $84,708.06
78 $84,708.06 $881.01 $0.00 $478.95 $86,068.02
79 $86,068.02 $881.01 $0.00 $486.64 $87,435.67
80 $87,435.67 $881.01 $0.00 $494.37 $88,811.05
81 $88,811.05 $881.01 $0.00 $502.15 $90,194.21
82 $90,194.21 $881.01 $0.00 $509.97 $91,585.19
83 $91,585.19 $881.01 $0.00 $517.84 $92,984.04
84 $92,984.04 $881.01 $0.00 $525.75 $94,390.80
85 $94,390.80 $881.01 $0.00 $533.70 $95,805.51
86 $95,805.51 $881.01 $0.00 $541.70 $97,228.22
87 $97,228.22 $881.01 $0.00 $549.74 $98,658.97
88 $98,658.97 $881.01 $0.00 $557.83 $100,097.81
89 $100,097.81 $881.01 $0.00 $565.97 $101,544.79
90 $101,544.79 $881.01 $0.00 $574.15 $102,999.95
91 $102,999.95 $881.01 $0.00 $582.38 $104,463.34
92 $104,463.34 $881.01 $0.00 $590.65 $105,935.00
93 $105,935.00 $881.01 $0.00 $598.97 $107,414.98
94 $107,414.98 $881.01 $0.00 $607.34 $108,903.33
95 $108,903.33 $881.01 $0.00 $615.76 $110,400.10
96 $110,400.10 $881.01 $0.00 $624.22 $111,905.33
97 $111,905.33 $881.01 $0.00 $632.73 $113,419.07
98 $113,419.07 $881.01 $0.00 $641.29 $114,941.37
99 $114,941.37 $881.01 $0.00 $649.90 $116,472.28
100 $116,472.28 $881.01 $0.00 $658.55 $118,011.84
101 $118,011.84 $881.01 $0.00 $667.26 $119,560.11
102 $119,560.11 $881.01 $0.00 $676.01 $121,117.13
103 $121,117.13 $881.01 $0.00 $684.81 $122,682.95
104 $122,682.95 $881.01 $0.00 $693.67 $124,257.63
105 $124,257.63 $881.01 $0.00 $702.57 $125,841.21
106 $125,841.21 $881.01 $0.00 $711.52 $127,433.74
107 $127,433.74 $881.01 $0.00 $720.53 $129,035.28
108 $129,035.28 $881.01 $0.00 $729.58 $130,645.87
109 $130,645.87 $881.01 $0.00 $738.69 $132,265.57
110 $132,265.57 $881.01 $0.00 $747.85 $133,894.43
111 $133,894.43 $881.01 $0.00 $757.06 $135,532.50
112 $135,532.50 $881.01 $0.00 $766.32 $137,179.83
113 $137,179.83 $881.01 $0.00 $775.63 $138,836.47
114 $138,836.47 $881.01 $0.00 $785.00 $140,502.48
115 $140,502.48 $881.01 $0.00 $794.42 $142,177.91
116 $142,177.91 $881.01 $0.00 $803.89 $143,862.81
117 $143,862.81 $881.01 $0.00 $813.42 $145,557.24
118 $145,557.24 $881.01 $0.00 $823.00 $147,261.25
119 $147,261.25 $881.01 $0.00 $832.64 $148,974.90
120 $148,974.90 $881.01 $0.00 $842.33 $150,698.24
121 $150,698.24 $881.01 $0.00 $852.07 $152,431.32
122 $152,431.32 $881.01 $0.00 $861.87 $154,174.20
123 $154,174.20 $881.01 $0.00 $871.72 $155,926.93
124 $155,926.93 $881.01 $0.00 $881.63 $157,689.57
125 $157,689.57 $881.01 $0.00 $891.60 $159,462.18
126 $159,462.18 $881.01 $0.00 $901.62 $161,244.81
127 $161,244.81 $881.01 $0.00 $911.70 $163,037.52
128 $163,037.52 $881.01 $0.00 $921.84 $164,840.37
129 $164,840.37 $881.01 $0.00 $932.03 $166,653.41
130 $166,653.41 $881.01 $0.00 $942.28 $168,476.70
131 $168,476.70 $881.01 $0.00 $952.59 $170,310.30
132 $170,310.30 $881.01 $0.00 $962.96 $172,154.27
133 $172,154.27 $881.01 $0.00 $973.39 $174,008.67
134 $174,008.67 $881.01 $0.00 $983.87 $175,873.55
135 $175,873.55 $881.01 $0.00 $994.41 $177,748.97
136 $177,748.97 $881.01 $0.00 $1,005.02 $179,635.00
137 $179,635.00 $881.01 $0.00 $1,015.68 $181,531.69
138 $181,531.69 $881.01 $0.00 $1,026.41 $183,439.11
139 $183,439.11 $881.01 $0.00 $1,037.19 $185,357.31
140 $185,357.31 $881.01 $0.00 $1,048.04 $187,286.36
141 $187,286.36 $881.01 $0.00 $1,058.94 $189,226.31
142 $189,226.31 $881.01 $0.00 $1,069.91 $191,177.23
143 $191,177.23 $881.01 $0.00 $1,080.94 $193,139.18
144 $193,139.18 $881.01 $0.00 $1,092.04 $195,112.23
145 $195,112.23 $881.01 $0.00 $1,103.19 $197,096.43
146 $197,096.43 $881.01 $0.00 $1,114.41 $199,091.85
147 $199,091.85 $881.01 $0.00 $1,125.69 $201,098.55
148 $201,098.55 $881.01 $0.00 $1,137.04 $203,116.60
149 $203,116.60 $881.01 $0.00 $1,148.45 $205,146.06
150 $205,146.06 $881.01 $0.00 $1,159.93 $207,187.00
151 $207,187.00 $881.01 $0.00 $1,171.47 $209,239.48
152 $209,239.48 $881.01 $0.00 $1,183.07 $211,303.56
153 $211,303.56 $881.01 $0.00 $1,194.74 $213,379.31
154 $213,379.31 $881.01 $0.00 $1,206.48 $215,466.80
155 $215,466.80 $881.01 $0.00 $1,218.28 $217,566.09
156 $217,566.09 $881.01 $0.00 $1,230.15 $219,677.25
157 $219,677.25 $881.01 $0.00 $1,242.09 $221,800.35
158 $221,800.35 $881.01 $0.00 $1,254.09 $223,935.45
159 $223,935.45 $881.01 $0.00 $1,266.16 $226,082.62
160 $226,082.62 $881.01 $0.00 $1,278.30 $228,241.93
161 $228,241.93 $881.01 $0.00 $1,290.51 $230,413.45
162 $230,413.45 $881.01 $0.00 $1,302.79 $232,597.25
163 $232,597.25 $881.01 $0.00 $1,315.14 $234,793.40
164 $234,793.40 $881.01 $0.00 $1,327.56 $237,001.97
165 $237,001.97 $881.01 $0.00 $1,340.04 $239,223.02
166 $239,223.02 $881.01 $0.00 $1,352.60 $241,456.63
167 $241,456.63 $881.01 $0.00 $1,365.23 $243,702.87
168 $243,702.87 $881.01 $0.00 $1,377.93 $245,961.81
169 $245,961.81 $881.01 $0.00 $1,390.70 $248,233.52
170 $248,233.52 $881.01 $0.00 $1,403.55 $250,518.08
171 $250,518.08 $881.01 $0.00 $1,416.47 $252,815.56
172 $252,815.56 $881.01 $0.00 $1,429.46 $255,126.03
173 $255,126.03 $881.01 $0.00 $1,442.52 $257,449.56
174 $257,449.56 $881.01 $0.00 $1,455.66 $259,786.23
175 $259,786.23 $881.01 $0.00 $1,468.87 $262,136.11
176 $262,136.11 $881.01 $0.00 $1,482.16 $264,499.28
177 $264,499.28 $881.01 $0.00 $1,495.52 $266,875.81
178 $266,875.81 $881.01 $0.00 $1,508.95 $269,265.77
179 $269,265.77 $881.01 $0.00 $1,522.47 $271,669.25
180 $271,669.25 $881.01 $0.00 $1,536.06 $274,086.32
181 $274,086.32 $881.01 $0.00 $1,549.72 $276,517.05
182 $276,517.05 $881.01 $0.00 $1,563.47 $278,961.53
183 $278,961.53 $881.01 $0.00 $1,577.29 $281,419.83
184 $281,419.83 $881.01 $0.00 $1,591.19 $283,892.03
185 $283,892.03 $881.01 $0.00 $1,605.17 $286,378.21
186 $286,378.21 $881.01 $0.00 $1,619.22 $288,878.44
187 $288,878.44 $881.01 $0.00 $1,633.36 $291,392.81
188 $291,392.81 $881.01 $0.00 $1,647.58 $293,921.40
189 $293,921.40 $881.01 $0.00 $1,661.87 $296,464.28
190 $296,464.28 $881.01 $0.00 $1,676.25 $299,021.54
191 $299,021.54 $881.01 $0.00 $1,690.71 $301,593.26
192 $301,593.26 $881.01 $0.00 $1,705.25 $304,179.52
193 $304,179.52 $881.01 $0.00 $1,719.88 $306,780.41
194 $306,780.41 $881.01 $0.00 $1,734.58 $309,396.00
195 $309,396.00 $881.01 $0.00 $1,749.37 $312,026.38
196 $312,026.38 $881.01 $0.00 $1,764.24 $314,671.63
197 $314,671.63 $881.01 $0.00 $1,779.20 $317,331.84
198 $317,331.84 $881.01 $0.00 $1,794.24 $320,007.09
199 $320,007.09 $881.01 $0.00 $1,809.37 $322,697.47
200 $322,697.47 $881.01 $0.00 $1,824.58 $325,403.06
201 $325,403.06 $881.01 $0.00 $1,839.88 $328,123.95
202 $328,123.95 $881.01 $0.00 $1,855.26 $330,860.22
203 $330,860.22 $881.01 $0.00 $1,870.73 $333,611.96
204 $333,611.96 $881.01 $0.00 $1,886.29 $336,379.26
205 $336,379.26 $881.01 $0.00 $1,901.94 $339,162.21
206 $339,162.21 $881.01 $0.00 $1,917.67 $341,960.89
207 $341,960.89 $881.01 $0.00 $1,933.50 $344,775.40
208 $344,775.40 $881.01 $0.00 $1,949.41 $347,605.82
209 $347,605.82 $881.01 $0.00 $1,965.41 $350,452.24
210 $350,452.24 $881.01 $0.00 $1,981.51 $353,314.76
211 $353,314.76 $881.01 $0.00 $1,997.69 $356,193.46
212 $356,193.46 $881.01 $0.00 $2,013.97 $359,088.44
213 $359,088.44 $881.01 $0.00 $2,030.34 $361,999.79
214 $361,999.79 $881.01 $0.00 $2,046.80 $364,927.60
215 $364,927.60 $881.01 $0.00 $2,063.35 $367,871.96
216 $367,871.96 $881.01 $0.00 $2,080.00 $370,832.97
217 $370,832.97 $881.01 $103,289.69 $2,096.74 $270,521.03
218 $270,521.03 $881.01 $0.00 $1,529.57 $272,931.61
219 $272,931.61 $881.01 $0.00 $1,543.20 $275,355.82
220 $275,355.82 $881.01 $0.00 $1,556.90 $277,793.73
221 $277,793.73 $881.01 $0.00 $1,570.69 $280,245.43
222 $280,245.43 $881.01 $0.00 $1,584.55 $282,710.99
223 $282,710.99 $881.01 $0.00 $1,598.49 $285,190.49
224 $285,190.49 $881.01 $0.00 $1,612.51 $287,684.01
225 $287,684.01 $881.01 $0.00 $1,626.61 $290,191.63
226 $290,191.63 $881.01 $0.00 $1,640.79 $292,713.43
227 $292,713.43 $881.01 $0.00 $1,655.04 $295,249.48
228 $295,249.48 $881.01 $0.00 $1,669.38 $297,799.87
229 $297,799.87 $881.01 $108,454.18 $1,683.80 $191,910.50
230 $191,910.50 $881.01 $0.00 $1,085.09 $193,876.60
231 $193,876.60 $881.01 $0.00 $1,096.21 $195,853.82
232 $195,853.82 $881.01 $0.00 $1,107.39 $197,842.22
233 $197,842.22 $881.01 $0.00 $1,118.63 $199,841.86
234 $199,841.86 $881.01 $0.00 $1,129.93 $201,852.80
235 $201,852.80 $881.01 $0.00 $1,141.31 $203,875.12
236 $203,875.12 $881.01 $0.00 $1,152.74 $205,908.87
237 $205,908.87 $881.01 $0.00 $1,164.24 $207,954.12
238 $207,954.12 $881.01 $0.00 $1,175.80 $210,010.93
239 $210,010.93 $881.01 $0.00 $1,187.43 $212,079.37
240 $212,079.37 $881.01 $0.00 $1,199.13 $214,159.51
241 $214,159.51 $881.01 $113,876.88 $1,210.89 $102,374.53
242 $102,374.53 $881.01 $0.00 $578.84 $103,834.38
243 $103,834.38 $881.01 $0.00 $587.09 $105,302.48
244 $105,302.48 $881.01 $0.00 $595.40 $106,778.89
245 $106,778.89 $881.01 $0.00 $603.74 $108,263.64
246 $108,263.64 $881.01 $0.00 $612.14 $109,756.79
247 $109,756.79 $881.01 $0.00 $620.58 $111,258.38
248 $111,258.38 $881.01 $0.00 $629.07 $112,768.46
249 $112,768.46 $881.01 $0.00 $637.61 $114,287.08
250 $114,287.08 $881.01 $0.00 $646.20 $115,814.29
251 $115,814.29 $881.01 $0.00 $654.83 $117,350.13
252 $117,350.13 $881.01 $0.00 $663.51 $118,894.65
253 $118,894.65 $0.00 $119,570.73 $672.25 ($3.83)