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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$60,240
Monthly savings required$477

How much will it cost to send your child to Trinity Baptist College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $240,960.83 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $476.85 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$23,230.00
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 $476.85 $0.00 $0.00 $476.85
2 $476.85 $476.85 $0.00 $2.70 $956.40
3 $956.40 $476.85 $0.00 $5.41 $1,438.66
4 $1,438.66 $476.85 $0.00 $8.13 $1,923.64
5 $1,923.64 $476.85 $0.00 $10.88 $2,411.37
6 $2,411.37 $476.85 $0.00 $13.63 $2,901.85
7 $2,901.85 $476.85 $0.00 $16.41 $3,395.11
8 $3,395.11 $476.85 $0.00 $19.20 $3,891.16
9 $3,891.16 $476.85 $0.00 $22.00 $4,390.01
10 $4,390.01 $476.85 $0.00 $24.82 $4,891.68
11 $4,891.68 $476.85 $0.00 $27.66 $5,396.19
12 $5,396.19 $476.85 $0.00 $30.51 $5,903.55
13 $5,903.55 $476.85 $0.00 $33.38 $6,413.78
14 $6,413.78 $476.85 $0.00 $36.26 $6,926.89
15 $6,926.89 $476.85 $0.00 $39.17 $7,442.91
16 $7,442.91 $476.85 $0.00 $42.08 $7,961.84
17 $7,961.84 $476.85 $0.00 $45.02 $8,483.71
18 $8,483.71 $476.85 $0.00 $47.97 $9,008.53
19 $9,008.53 $476.85 $0.00 $50.94 $9,536.32
20 $9,536.32 $476.85 $0.00 $53.92 $10,067.09
21 $10,067.09 $476.85 $0.00 $56.92 $10,600.86
22 $10,600.86 $476.85 $0.00 $59.94 $11,137.65
23 $11,137.65 $476.85 $0.00 $62.97 $11,677.47
24 $11,677.47 $476.85 $0.00 $66.03 $12,220.35
25 $12,220.35 $476.85 $0.00 $69.10 $12,766.30
26 $12,766.30 $476.85 $0.00 $72.18 $13,315.33
27 $13,315.33 $476.85 $0.00 $75.29 $13,867.47
28 $13,867.47 $476.85 $0.00 $78.41 $14,422.73
29 $14,422.73 $476.85 $0.00 $81.55 $14,981.13
30 $14,981.13 $476.85 $0.00 $84.71 $15,542.69
31 $15,542.69 $476.85 $0.00 $87.88 $16,107.42
32 $16,107.42 $476.85 $0.00 $91.07 $16,675.34
33 $16,675.34 $476.85 $0.00 $94.28 $17,246.47
34 $17,246.47 $476.85 $0.00 $97.51 $17,820.83
35 $17,820.83 $476.85 $0.00 $100.76 $18,398.44
36 $18,398.44 $476.85 $0.00 $104.03 $18,979.32
37 $18,979.32 $476.85 $0.00 $107.31 $19,563.48
38 $19,563.48 $476.85 $0.00 $110.61 $20,150.94
39 $20,150.94 $476.85 $0.00 $113.94 $20,741.73
40 $20,741.73 $476.85 $0.00 $117.28 $21,335.86
41 $21,335.86 $476.85 $0.00 $120.64 $21,933.35
42 $21,933.35 $476.85 $0.00 $124.01 $22,534.21
43 $22,534.21 $476.85 $0.00 $127.41 $23,138.47
44 $23,138.47 $476.85 $0.00 $130.83 $23,746.15
45 $23,746.15 $476.85 $0.00 $134.26 $24,357.26
46 $24,357.26 $476.85 $0.00 $137.72 $24,971.83
47 $24,971.83 $476.85 $0.00 $141.19 $25,589.87
48 $25,589.87 $476.85 $0.00 $144.69 $26,211.41
49 $26,211.41 $476.85 $0.00 $148.20 $26,836.46
50 $26,836.46 $476.85 $0.00 $151.74 $27,465.05
51 $27,465.05 $476.85 $0.00 $155.29 $28,097.19
52 $28,097.19 $476.85 $0.00 $158.87 $28,732.91
53 $28,732.91 $476.85 $0.00 $162.46 $29,372.22
54 $29,372.22 $476.85 $0.00 $166.07 $30,015.14
55 $30,015.14 $476.85 $0.00 $169.71 $30,661.70
56 $30,661.70 $476.85 $0.00 $173.37 $31,311.92
57 $31,311.92 $476.85 $0.00 $177.04 $31,965.81
58 $31,965.81 $476.85 $0.00 $180.74 $32,623.40
59 $32,623.40 $476.85 $0.00 $184.46 $33,284.71
60 $33,284.71 $476.85 $0.00 $188.20 $33,949.76
61 $33,949.76 $476.85 $0.00 $191.96 $34,618.57
62 $34,618.57 $476.85 $0.00 $195.74 $35,291.16
63 $35,291.16 $476.85 $0.00 $199.54 $35,967.55
64 $35,967.55 $476.85 $0.00 $203.37 $36,647.77
65 $36,647.77 $476.85 $0.00 $207.21 $37,331.83
66 $37,331.83 $476.85 $0.00 $211.08 $38,019.76
67 $38,019.76 $476.85 $0.00 $214.97 $38,711.58
68 $38,711.58 $476.85 $0.00 $218.88 $39,407.31
69 $39,407.31 $476.85 $0.00 $222.81 $40,106.97
70 $40,106.97 $476.85 $0.00 $226.77 $40,810.59
71 $40,810.59 $476.85 $0.00 $230.75 $41,518.19
72 $41,518.19 $476.85 $0.00 $234.75 $42,229.79
73 $42,229.79 $476.85 $0.00 $238.77 $42,945.41
74 $42,945.41 $476.85 $0.00 $242.82 $43,665.08
75 $43,665.08 $476.85 $0.00 $246.89 $44,388.82
76 $44,388.82 $476.85 $0.00 $250.98 $45,116.65
77 $45,116.65 $476.85 $0.00 $255.10 $45,848.60
78 $45,848.60 $476.85 $0.00 $259.23 $46,584.68
79 $46,584.68 $476.85 $0.00 $263.40 $47,324.93
80 $47,324.93 $476.85 $0.00 $267.58 $48,069.36
81 $48,069.36 $476.85 $0.00 $271.79 $48,818.00
82 $48,818.00 $476.85 $0.00 $276.02 $49,570.87
83 $49,570.87 $476.85 $0.00 $280.28 $50,328.00
84 $50,328.00 $476.85 $0.00 $284.56 $51,089.41
85 $51,089.41 $476.85 $0.00 $288.87 $51,855.13
86 $51,855.13 $476.85 $0.00 $293.20 $52,625.18
87 $52,625.18 $476.85 $0.00 $297.55 $53,399.58
88 $53,399.58 $476.85 $0.00 $301.93 $54,178.36
89 $54,178.36 $476.85 $0.00 $306.33 $54,961.54
90 $54,961.54 $476.85 $0.00 $310.76 $55,749.15
91 $55,749.15 $476.85 $0.00 $315.21 $56,541.21
92 $56,541.21 $476.85 $0.00 $319.69 $57,337.75
93 $57,337.75 $476.85 $0.00 $324.20 $58,138.80
94 $58,138.80 $476.85 $0.00 $328.73 $58,944.38
95 $58,944.38 $476.85 $0.00 $333.28 $59,754.51
96 $59,754.51 $476.85 $0.00 $337.86 $60,569.22
97 $60,569.22 $476.85 $0.00 $342.47 $61,388.54
98 $61,388.54 $476.85 $0.00 $347.10 $62,212.49
99 $62,212.49 $476.85 $0.00 $351.76 $63,041.10
100 $63,041.10 $476.85 $0.00 $356.44 $63,874.39
101 $63,874.39 $476.85 $0.00 $361.16 $64,712.40
102 $64,712.40 $476.85 $0.00 $365.89 $65,555.14
103 $65,555.14 $476.85 $0.00 $370.66 $66,402.65
104 $66,402.65 $476.85 $0.00 $375.45 $67,254.95
105 $67,254.95 $476.85 $0.00 $380.27 $68,112.07
106 $68,112.07 $476.85 $0.00 $385.12 $68,974.04
107 $68,974.04 $476.85 $0.00 $389.99 $69,840.88
108 $69,840.88 $476.85 $0.00 $394.89 $70,712.62
109 $70,712.62 $476.85 $0.00 $399.82 $71,589.29
110 $71,589.29 $476.85 $0.00 $404.78 $72,470.92
111 $72,470.92 $476.85 $0.00 $409.76 $73,357.53
112 $73,357.53 $476.85 $0.00 $414.77 $74,249.15
113 $74,249.15 $476.85 $0.00 $419.82 $75,145.82
114 $75,145.82 $476.85 $0.00 $424.89 $76,047.56
115 $76,047.56 $476.85 $0.00 $429.98 $76,954.39
116 $76,954.39 $476.85 $0.00 $435.11 $77,866.35
117 $77,866.35 $476.85 $0.00 $440.27 $78,783.47
118 $78,783.47 $476.85 $0.00 $445.45 $79,705.77
119 $79,705.77 $476.85 $0.00 $450.67 $80,633.29
120 $80,633.29 $476.85 $0.00 $455.91 $81,566.05
121 $81,566.05 $476.85 $0.00 $461.19 $82,504.09
122 $82,504.09 $476.85 $0.00 $466.49 $83,447.43
123 $83,447.43 $476.85 $0.00 $471.82 $84,396.10
124 $84,396.10 $476.85 $0.00 $477.19 $85,350.14
125 $85,350.14 $476.85 $0.00 $482.58 $86,309.57
126 $86,309.57 $476.85 $0.00 $488.01 $87,274.43
127 $87,274.43 $476.85 $0.00 $493.46 $88,244.74
128 $88,244.74 $476.85 $0.00 $498.95 $89,220.54
129 $89,220.54 $476.85 $0.00 $504.47 $90,201.86
130 $90,201.86 $476.85 $0.00 $510.01 $91,188.72
131 $91,188.72 $476.85 $0.00 $515.59 $92,181.16
132 $92,181.16 $476.85 $0.00 $521.21 $93,179.22
133 $93,179.22 $476.85 $0.00 $526.85 $94,182.92
134 $94,182.92 $476.85 $0.00 $532.52 $95,192.29
135 $95,192.29 $476.85 $0.00 $538.23 $96,207.37
136 $96,207.37 $476.85 $0.00 $543.97 $97,228.19
137 $97,228.19 $476.85 $0.00 $549.74 $98,254.78
138 $98,254.78 $476.85 $0.00 $555.55 $99,287.18
139 $99,287.18 $476.85 $0.00 $561.38 $100,325.41
140 $100,325.41 $476.85 $0.00 $567.25 $101,369.51
141 $101,369.51 $476.85 $0.00 $573.16 $102,419.52
142 $102,419.52 $476.85 $0.00 $579.09 $103,475.46
143 $103,475.46 $476.85 $0.00 $585.07 $104,537.38
144 $104,537.38 $476.85 $0.00 $591.07 $105,605.30
145 $105,605.30 $476.85 $0.00 $597.11 $106,679.26
146 $106,679.26 $476.85 $0.00 $603.18 $107,759.29
147 $107,759.29 $476.85 $0.00 $609.29 $108,845.43
148 $108,845.43 $476.85 $0.00 $615.43 $109,937.71
149 $109,937.71 $476.85 $0.00 $621.60 $111,036.16
150 $111,036.16 $476.85 $0.00 $627.81 $112,140.82
151 $112,140.82 $476.85 $0.00 $634.06 $113,251.73
152 $113,251.73 $476.85 $0.00 $640.34 $114,368.92
153 $114,368.92 $476.85 $0.00 $646.66 $115,492.43
154 $115,492.43 $476.85 $0.00 $653.01 $116,622.29
155 $116,622.29 $476.85 $0.00 $659.40 $117,758.54
156 $117,758.54 $476.85 $0.00 $665.82 $118,901.21
157 $118,901.21 $476.85 $0.00 $672.28 $120,050.34
158 $120,050.34 $476.85 $0.00 $678.78 $121,205.97
159 $121,205.97 $476.85 $0.00 $685.32 $122,368.14
160 $122,368.14 $476.85 $0.00 $691.89 $123,536.88
161 $123,536.88 $476.85 $0.00 $698.50 $124,712.23
162 $124,712.23 $476.85 $0.00 $705.14 $125,894.22
163 $125,894.22 $476.85 $0.00 $711.82 $127,082.89
164 $127,082.89 $476.85 $0.00 $718.55 $128,278.29
165 $128,278.29 $476.85 $0.00 $725.30 $129,480.44
166 $129,480.44 $476.85 $0.00 $732.10 $130,689.39
167 $130,689.39 $476.85 $0.00 $738.94 $131,905.18
168 $131,905.18 $476.85 $0.00 $745.81 $133,127.84
169 $133,127.84 $476.85 $0.00 $752.72 $134,357.41
170 $134,357.41 $476.85 $0.00 $759.68 $135,593.94
171 $135,593.94 $476.85 $0.00 $766.67 $136,837.46
172 $136,837.46 $476.85 $0.00 $773.70 $138,088.01
173 $138,088.01 $476.85 $0.00 $780.77 $139,345.63
174 $139,345.63 $476.85 $0.00 $787.88 $140,610.36
175 $140,610.36 $476.85 $0.00 $795.03 $141,882.24
176 $141,882.24 $476.85 $0.00 $802.22 $143,161.31
177 $143,161.31 $476.85 $0.00 $809.45 $144,447.61
178 $144,447.61 $476.85 $0.00 $816.73 $145,741.19
179 $145,741.19 $476.85 $0.00 $824.04 $147,042.08
180 $147,042.08 $476.85 $0.00 $831.40 $148,350.33
181 $148,350.33 $476.85 $0.00 $838.79 $149,665.97
182 $149,665.97 $476.85 $0.00 $846.23 $150,989.05
183 $150,989.05 $476.85 $0.00 $853.71 $152,319.61
184 $152,319.61 $476.85 $0.00 $861.24 $153,657.70
185 $153,657.70 $476.85 $0.00 $868.80 $155,003.35
186 $155,003.35 $476.85 $0.00 $876.41 $156,356.61
187 $156,356.61 $476.85 $0.00 $884.06 $157,717.52
188 $157,717.52 $476.85 $0.00 $891.76 $159,086.13
189 $159,086.13 $476.85 $0.00 $899.50 $160,462.48
190 $160,462.48 $476.85 $0.00 $907.28 $161,846.61
191 $161,846.61 $476.85 $0.00 $915.10 $163,238.56
192 $163,238.56 $476.85 $0.00 $922.97 $164,638.38
193 $164,638.38 $476.85 $0.00 $930.89 $166,046.12
194 $166,046.12 $476.85 $0.00 $938.85 $167,461.82
195 $167,461.82 $476.85 $0.00 $946.85 $168,885.52
196 $168,885.52 $476.85 $0.00 $954.90 $170,317.27
197 $170,317.27 $476.85 $0.00 $963.00 $171,757.12
198 $171,757.12 $476.85 $0.00 $971.14 $173,205.11
199 $173,205.11 $476.85 $0.00 $979.33 $174,661.29
200 $174,661.29 $476.85 $0.00 $987.56 $176,125.70
201 $176,125.70 $476.85 $0.00 $995.84 $177,598.39
202 $177,598.39 $476.85 $0.00 $1,004.17 $179,079.41
203 $179,079.41 $476.85 $0.00 $1,012.54 $180,568.80
204 $180,568.80 $476.85 $0.00 $1,020.96 $182,066.61
205 $182,066.61 $476.85 $0.00 $1,029.43 $183,572.89
206 $183,572.89 $476.85 $0.00 $1,037.95 $185,087.69
207 $185,087.69 $476.85 $0.00 $1,046.51 $186,611.05
208 $186,611.05 $476.85 $0.00 $1,055.13 $188,143.03
209 $188,143.03 $476.85 $0.00 $1,063.79 $189,683.67
210 $189,683.67 $476.85 $0.00 $1,072.50 $191,233.02
211 $191,233.02 $476.85 $0.00 $1,081.26 $192,791.13
212 $192,791.13 $476.85 $0.00 $1,090.07 $194,358.05
213 $194,358.05 $476.85 $0.00 $1,098.93 $195,933.83
214 $195,933.83 $476.85 $0.00 $1,107.84 $197,518.52
215 $197,518.52 $476.85 $0.00 $1,116.80 $199,112.17
216 $199,112.17 $476.85 $0.00 $1,125.81 $200,714.83
217 $200,714.83 $476.85 $55,905.76 $1,134.87 $146,420.79
218 $146,420.79 $476.85 $0.00 $827.88 $147,725.52
219 $147,725.52 $476.85 $0.00 $835.26 $149,037.63
220 $149,037.63 $476.85 $0.00 $842.68 $150,357.16
221 $150,357.16 $476.85 $0.00 $850.14 $151,684.15
222 $151,684.15 $476.85 $0.00 $857.64 $153,018.64
223 $153,018.64 $476.85 $0.00 $865.19 $154,360.68
224 $154,360.68 $476.85 $0.00 $872.78 $155,710.31
225 $155,710.31 $476.85 $0.00 $880.41 $157,067.57
226 $157,067.57 $476.85 $0.00 $888.08 $158,432.50
227 $158,432.50 $476.85 $0.00 $895.80 $159,805.15
228 $159,805.15 $476.85 $0.00 $903.56 $161,185.56
229 $161,185.56 $476.85 $58,701.05 $911.37 $103,872.73
230 $103,872.73 $476.85 $0.00 $587.31 $104,936.89
231 $104,936.89 $476.85 $0.00 $593.33 $106,007.07
232 $106,007.07 $476.85 $0.00 $599.38 $107,083.30
233 $107,083.30 $476.85 $0.00 $605.46 $108,165.61
234 $108,165.61 $476.85 $0.00 $611.58 $109,254.04
235 $109,254.04 $476.85 $0.00 $617.74 $110,348.63
236 $110,348.63 $476.85 $0.00 $623.93 $111,449.41
237 $111,449.41 $476.85 $0.00 $630.15 $112,556.41
238 $112,556.41 $476.85 $0.00 $636.41 $113,669.67
239 $113,669.67 $476.85 $0.00 $642.70 $114,789.22
240 $114,789.22 $476.85 $0.00 $649.03 $115,915.10
241 $115,915.10 $476.85 $61,636.11 $655.40 $55,411.24
242 $55,411.24 $476.85 $0.00 $313.30 $56,201.39
243 $56,201.39 $476.85 $0.00 $317.77 $56,996.01
244 $56,996.01 $476.85 $0.00 $322.26 $57,795.12
245 $57,795.12 $476.85 $0.00 $326.78 $58,598.75
246 $58,598.75 $476.85 $0.00 $331.33 $59,406.93
247 $59,406.93 $476.85 $0.00 $335.90 $60,219.68
248 $60,219.68 $476.85 $0.00 $340.49 $61,037.02
249 $61,037.02 $476.85 $0.00 $345.11 $61,858.98
250 $61,858.98 $476.85 $0.00 $349.76 $62,685.59
251 $62,685.59 $476.85 $0.00 $354.43 $63,516.87
252 $63,516.87 $476.85 $0.00 $359.13 $64,352.85
253 $64,352.85 $0.00 $64,717.91 $363.86 ($1.20)