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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$122,010
Monthly savings required$966

How much will it cost to send your child to Art Academy of Cincinnati in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $488,041.64 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $965.81 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$47,050.00
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 $965.81 $0.00 $0.00 $965.81
2 $965.81 $965.81 $0.00 $5.46 $1,937.08
3 $1,937.08 $965.81 $0.00 $10.95 $2,913.84
4 $2,913.84 $965.81 $0.00 $16.48 $3,896.13
5 $3,896.13 $965.81 $0.00 $22.03 $4,883.97
6 $4,883.97 $965.81 $0.00 $27.61 $5,877.39
7 $5,877.39 $965.81 $0.00 $33.23 $6,876.43
8 $6,876.43 $965.81 $0.00 $38.88 $7,881.12
9 $7,881.12 $965.81 $0.00 $44.56 $8,891.49
10 $8,891.49 $965.81 $0.00 $50.27 $9,907.57
11 $9,907.57 $965.81 $0.00 $56.02 $10,929.40
12 $10,929.40 $965.81 $0.00 $61.80 $11,957.01
13 $11,957.01 $965.81 $0.00 $67.61 $12,990.43
14 $12,990.43 $965.81 $0.00 $73.45 $14,029.69
15 $14,029.69 $965.81 $0.00 $79.33 $15,074.83
16 $15,074.83 $965.81 $0.00 $85.24 $16,125.88
17 $16,125.88 $965.81 $0.00 $91.18 $17,182.87
18 $17,182.87 $965.81 $0.00 $97.15 $18,245.83
19 $18,245.83 $965.81 $0.00 $103.16 $19,314.80
20 $19,314.80 $965.81 $0.00 $109.21 $20,389.82
21 $20,389.82 $965.81 $0.00 $115.29 $21,470.92
22 $21,470.92 $965.81 $0.00 $121.40 $22,558.13
23 $22,558.13 $965.81 $0.00 $127.55 $23,651.49
24 $23,651.49 $965.81 $0.00 $133.73 $24,751.03
25 $24,751.03 $965.81 $0.00 $139.95 $25,856.79
26 $25,856.79 $965.81 $0.00 $146.20 $26,968.80
27 $26,968.80 $965.81 $0.00 $152.49 $28,087.10
28 $28,087.10 $965.81 $0.00 $158.81 $29,211.72
29 $29,211.72 $965.81 $0.00 $165.17 $30,342.70
30 $30,342.70 $965.81 $0.00 $171.56 $31,480.07
31 $31,480.07 $965.81 $0.00 $177.99 $32,623.87
32 $32,623.87 $965.81 $0.00 $184.46 $33,774.14
33 $33,774.14 $965.81 $0.00 $190.96 $34,930.91
34 $34,930.91 $965.81 $0.00 $197.50 $36,094.22
35 $36,094.22 $965.81 $0.00 $204.08 $37,264.11
36 $37,264.11 $965.81 $0.00 $210.70 $38,440.62
37 $38,440.62 $965.81 $0.00 $217.35 $39,623.78
38 $39,623.78 $965.81 $0.00 $224.04 $40,813.63
39 $40,813.63 $965.81 $0.00 $230.77 $42,010.21
40 $42,010.21 $965.81 $0.00 $237.53 $43,213.55
41 $43,213.55 $965.81 $0.00 $244.34 $44,423.70
42 $44,423.70 $965.81 $0.00 $251.18 $45,640.69
43 $45,640.69 $965.81 $0.00 $258.06 $46,864.56
44 $46,864.56 $965.81 $0.00 $264.98 $48,095.35
45 $48,095.35 $965.81 $0.00 $271.94 $49,333.10
46 $49,333.10 $965.81 $0.00 $278.94 $50,577.85
47 $50,577.85 $965.81 $0.00 $285.97 $51,829.63
48 $51,829.63 $965.81 $0.00 $293.05 $53,088.49
49 $53,088.49 $965.81 $0.00 $300.17 $54,354.47
50 $54,354.47 $965.81 $0.00 $307.33 $55,627.61
51 $55,627.61 $965.81 $0.00 $314.53 $56,907.95
52 $56,907.95 $965.81 $0.00 $321.77 $58,195.53
53 $58,195.53 $965.81 $0.00 $329.05 $59,490.39
54 $59,490.39 $965.81 $0.00 $336.37 $60,792.57
55 $60,792.57 $965.81 $0.00 $343.73 $62,102.11
56 $62,102.11 $965.81 $0.00 $351.13 $63,419.05
57 $63,419.05 $965.81 $0.00 $358.58 $64,743.44
58 $64,743.44 $965.81 $0.00 $366.07 $66,075.32
59 $66,075.32 $965.81 $0.00 $373.60 $67,414.73
60 $67,414.73 $965.81 $0.00 $381.17 $68,761.71
61 $68,761.71 $965.81 $0.00 $388.79 $70,116.31
62 $70,116.31 $965.81 $0.00 $396.45 $71,478.57
63 $71,478.57 $965.81 $0.00 $404.15 $72,848.53
64 $72,848.53 $965.81 $0.00 $411.90 $74,226.24
65 $74,226.24 $965.81 $0.00 $419.69 $75,611.74
66 $75,611.74 $965.81 $0.00 $427.52 $77,005.07
67 $77,005.07 $965.81 $0.00 $435.40 $78,406.28
68 $78,406.28 $965.81 $0.00 $443.32 $79,815.41
69 $79,815.41 $965.81 $0.00 $451.29 $81,232.51
70 $81,232.51 $965.81 $0.00 $459.30 $82,657.62
71 $82,657.62 $965.81 $0.00 $467.36 $84,090.79
72 $84,090.79 $965.81 $0.00 $475.46 $85,532.06
73 $85,532.06 $965.81 $0.00 $483.61 $86,981.48
74 $86,981.48 $965.81 $0.00 $491.81 $88,439.10
75 $88,439.10 $965.81 $0.00 $500.05 $89,904.96
76 $89,904.96 $965.81 $0.00 $508.34 $91,379.11
77 $91,379.11 $965.81 $0.00 $516.67 $92,861.59
78 $92,861.59 $965.81 $0.00 $525.05 $94,352.45
79 $94,352.45 $965.81 $0.00 $533.48 $95,851.74
80 $95,851.74 $965.81 $0.00 $541.96 $97,359.51
81 $97,359.51 $965.81 $0.00 $550.48 $98,875.80
82 $98,875.80 $965.81 $0.00 $559.06 $100,400.67
83 $100,400.67 $965.81 $0.00 $567.68 $101,934.16
84 $101,934.16 $965.81 $0.00 $576.35 $103,476.32
85 $103,476.32 $965.81 $0.00 $585.07 $105,027.20
86 $105,027.20 $965.81 $0.00 $593.84 $106,586.85
87 $106,586.85 $965.81 $0.00 $602.66 $108,155.32
88 $108,155.32 $965.81 $0.00 $611.53 $109,732.66
89 $109,732.66 $965.81 $0.00 $620.44 $111,318.91
90 $111,318.91 $965.81 $0.00 $629.41 $112,914.13
91 $112,914.13 $965.81 $0.00 $638.43 $114,518.37
92 $114,518.37 $965.81 $0.00 $647.50 $116,131.68
93 $116,131.68 $965.81 $0.00 $656.63 $117,754.12
94 $117,754.12 $965.81 $0.00 $665.80 $119,385.73
95 $119,385.73 $965.81 $0.00 $675.02 $121,026.56
96 $121,026.56 $965.81 $0.00 $684.30 $122,676.67
97 $122,676.67 $965.81 $0.00 $693.63 $124,336.11
98 $124,336.11 $965.81 $0.00 $703.01 $126,004.93
99 $126,004.93 $965.81 $0.00 $712.45 $127,683.19
100 $127,683.19 $965.81 $0.00 $721.94 $129,370.94
101 $129,370.94 $965.81 $0.00 $731.48 $131,068.23
102 $131,068.23 $965.81 $0.00 $741.08 $132,775.12
103 $132,775.12 $965.81 $0.00 $750.73 $134,491.66
104 $134,491.66 $965.81 $0.00 $760.44 $136,217.91
105 $136,217.91 $965.81 $0.00 $770.20 $137,953.92
106 $137,953.92 $965.81 $0.00 $780.01 $139,699.74
107 $139,699.74 $965.81 $0.00 $789.88 $141,455.43
108 $141,455.43 $965.81 $0.00 $799.81 $143,221.05
109 $143,221.05 $965.81 $0.00 $809.79 $144,996.65
110 $144,996.65 $965.81 $0.00 $819.83 $146,782.29
111 $146,782.29 $965.81 $0.00 $829.93 $148,578.03
112 $148,578.03 $965.81 $0.00 $840.08 $150,383.92
113 $150,383.92 $965.81 $0.00 $850.29 $152,200.02
114 $152,200.02 $965.81 $0.00 $860.56 $154,026.39
115 $154,026.39 $965.81 $0.00 $870.89 $155,863.09
116 $155,863.09 $965.81 $0.00 $881.27 $157,710.17
117 $157,710.17 $965.81 $0.00 $891.72 $159,567.70
118 $159,567.70 $965.81 $0.00 $902.22 $161,435.73
119 $161,435.73 $965.81 $0.00 $912.78 $163,314.32
120 $163,314.32 $965.81 $0.00 $923.40 $165,203.53
121 $165,203.53 $965.81 $0.00 $934.08 $167,103.42
122 $167,103.42 $965.81 $0.00 $944.83 $169,014.06
123 $169,014.06 $965.81 $0.00 $955.63 $170,935.50
124 $170,935.50 $965.81 $0.00 $966.49 $172,867.80
125 $172,867.80 $965.81 $0.00 $977.42 $174,811.03
126 $174,811.03 $965.81 $0.00 $988.41 $176,765.25
127 $176,765.25 $965.81 $0.00 $999.46 $178,730.52
128 $178,730.52 $965.81 $0.00 $1,010.57 $180,706.90
129 $180,706.90 $965.81 $0.00 $1,021.74 $182,694.45
130 $182,694.45 $965.81 $0.00 $1,032.98 $184,693.24
131 $184,693.24 $965.81 $0.00 $1,044.28 $186,703.33
132 $186,703.33 $965.81 $0.00 $1,055.65 $188,724.79
133 $188,724.79 $965.81 $0.00 $1,067.08 $190,757.68
134 $190,757.68 $965.81 $0.00 $1,078.57 $192,802.06
135 $192,802.06 $965.81 $0.00 $1,090.13 $194,858.00
136 $194,858.00 $965.81 $0.00 $1,101.76 $196,925.57
137 $196,925.57 $965.81 $0.00 $1,113.45 $199,004.83
138 $199,004.83 $965.81 $0.00 $1,125.20 $201,095.84
139 $201,095.84 $965.81 $0.00 $1,137.03 $203,198.68
140 $203,198.68 $965.81 $0.00 $1,148.91 $205,313.40
141 $205,313.40 $965.81 $0.00 $1,160.87 $207,440.08
142 $207,440.08 $965.81 $0.00 $1,172.90 $209,578.79
143 $209,578.79 $965.81 $0.00 $1,184.99 $211,729.59
144 $211,729.59 $965.81 $0.00 $1,197.15 $213,892.55
145 $213,892.55 $965.81 $0.00 $1,209.38 $216,067.74
146 $216,067.74 $965.81 $0.00 $1,221.68 $218,255.23
147 $218,255.23 $965.81 $0.00 $1,234.05 $220,455.09
148 $220,455.09 $965.81 $0.00 $1,246.49 $222,667.39
149 $222,667.39 $965.81 $0.00 $1,258.99 $224,892.19
150 $224,892.19 $965.81 $0.00 $1,271.57 $227,129.57
151 $227,129.57 $965.81 $0.00 $1,284.22 $229,379.60
152 $229,379.60 $965.81 $0.00 $1,296.95 $231,642.36
153 $231,642.36 $965.81 $0.00 $1,309.74 $233,917.91
154 $233,917.91 $965.81 $0.00 $1,322.61 $236,206.33
155 $236,206.33 $965.81 $0.00 $1,335.54 $238,507.68
156 $238,507.68 $965.81 $0.00 $1,348.56 $240,822.05
157 $240,822.05 $965.81 $0.00 $1,361.64 $243,149.50
158 $243,149.50 $965.81 $0.00 $1,374.80 $245,490.11
159 $245,490.11 $965.81 $0.00 $1,388.04 $247,843.96
160 $247,843.96 $965.81 $0.00 $1,401.35 $250,211.12
161 $250,211.12 $965.81 $0.00 $1,414.73 $252,591.66
162 $252,591.66 $965.81 $0.00 $1,428.19 $254,985.66
163 $254,985.66 $965.81 $0.00 $1,441.73 $257,393.20
164 $257,393.20 $965.81 $0.00 $1,455.34 $259,814.35
165 $259,814.35 $965.81 $0.00 $1,469.03 $262,249.19
166 $262,249.19 $965.81 $0.00 $1,482.80 $264,697.80
167 $264,697.80 $965.81 $0.00 $1,496.64 $267,160.25
168 $267,160.25 $965.81 $0.00 $1,510.56 $269,636.62
169 $269,636.62 $965.81 $0.00 $1,524.56 $272,126.99
170 $272,126.99 $965.81 $0.00 $1,538.65 $274,631.45
171 $274,631.45 $965.81 $0.00 $1,552.81 $277,150.07
172 $277,150.07 $965.81 $0.00 $1,567.05 $279,682.93
173 $279,682.93 $965.81 $0.00 $1,581.37 $282,230.11
174 $282,230.11 $965.81 $0.00 $1,595.77 $284,791.69
175 $284,791.69 $965.81 $0.00 $1,610.25 $287,367.75
176 $287,367.75 $965.81 $0.00 $1,624.82 $289,958.38
177 $289,958.38 $965.81 $0.00 $1,639.47 $292,563.66
178 $292,563.66 $965.81 $0.00 $1,654.20 $295,183.67
179 $295,183.67 $965.81 $0.00 $1,669.01 $297,818.49
180 $297,818.49 $965.81 $0.00 $1,683.91 $300,468.21
181 $300,468.21 $965.81 $0.00 $1,698.89 $303,132.91
182 $303,132.91 $965.81 $0.00 $1,713.96 $305,812.68
183 $305,812.68 $965.81 $0.00 $1,729.11 $308,507.60
184 $308,507.60 $965.81 $0.00 $1,744.35 $311,217.76
185 $311,217.76 $965.81 $0.00 $1,759.67 $313,943.24
186 $313,943.24 $965.81 $0.00 $1,775.08 $316,684.13
187 $316,684.13 $965.81 $0.00 $1,790.58 $319,440.52
188 $319,440.52 $965.81 $0.00 $1,806.16 $322,212.49
189 $322,212.49 $965.81 $0.00 $1,821.84 $325,000.14
190 $325,000.14 $965.81 $0.00 $1,837.60 $327,803.55
191 $327,803.55 $965.81 $0.00 $1,853.45 $330,622.81
192 $330,622.81 $965.81 $0.00 $1,869.39 $333,458.01
193 $333,458.01 $965.81 $0.00 $1,885.42 $336,309.24
194 $336,309.24 $965.81 $0.00 $1,901.54 $339,176.59
195 $339,176.59 $965.81 $0.00 $1,917.75 $342,060.15
196 $342,060.15 $965.81 $0.00 $1,934.06 $344,960.02
197 $344,960.02 $965.81 $0.00 $1,950.45 $347,876.28
198 $347,876.28 $965.81 $0.00 $1,966.94 $350,809.03
199 $350,809.03 $965.81 $0.00 $1,983.53 $353,758.37
200 $353,758.37 $965.81 $0.00 $2,000.20 $356,724.38
201 $356,724.38 $965.81 $0.00 $2,016.97 $359,707.16
202 $359,707.16 $965.81 $0.00 $2,033.84 $362,706.81
203 $362,706.81 $965.81 $0.00 $2,050.80 $365,723.42
204 $365,723.42 $965.81 $0.00 $2,067.85 $368,757.08
205 $368,757.08 $965.81 $0.00 $2,085.01 $371,807.90
206 $371,807.90 $965.81 $0.00 $2,102.26 $374,875.97
207 $374,875.97 $965.81 $0.00 $2,119.60 $377,961.38
208 $377,961.38 $965.81 $0.00 $2,137.05 $381,064.24
209 $381,064.24 $965.81 $0.00 $2,154.59 $384,184.64
210 $384,184.64 $965.81 $0.00 $2,172.24 $387,322.69
211 $387,322.69 $965.81 $0.00 $2,189.98 $390,478.48
212 $390,478.48 $965.81 $0.00 $2,207.82 $393,652.11
213 $393,652.11 $965.81 $0.00 $2,225.77 $396,843.69
214 $396,843.69 $965.81 $0.00 $2,243.81 $400,053.31
215 $400,053.31 $965.81 $0.00 $2,261.96 $403,281.08
216 $403,281.08 $965.81 $0.00 $2,280.21 $406,527.10
217 $406,527.10 $965.81 $113,231.43 $2,298.56 $296,560.04
218 $296,560.04 $965.81 $0.00 $1,676.79 $299,202.64
219 $299,202.64 $965.81 $0.00 $1,691.74 $301,860.19
220 $301,860.19 $965.81 $0.00 $1,706.76 $304,532.76
221 $304,532.76 $965.81 $0.00 $1,721.87 $307,220.44
222 $307,220.44 $965.81 $0.00 $1,737.07 $309,923.32
223 $309,923.32 $965.81 $0.00 $1,752.35 $312,641.48
224 $312,641.48 $965.81 $0.00 $1,767.72 $315,375.01
225 $315,375.01 $965.81 $0.00 $1,783.18 $318,124.00
226 $318,124.00 $965.81 $0.00 $1,798.72 $320,888.53
227 $320,888.53 $965.81 $0.00 $1,814.35 $323,668.69
228 $323,668.69 $965.81 $0.00 $1,830.07 $326,464.57
229 $326,464.57 $965.81 $118,893.01 $1,845.88 $210,383.25
230 $210,383.25 $965.81 $0.00 $1,189.54 $212,538.60
231 $212,538.60 $965.81 $0.00 $1,201.72 $214,706.13
232 $214,706.13 $965.81 $0.00 $1,213.98 $216,885.92
233 $216,885.92 $965.81 $0.00 $1,226.30 $219,078.03
234 $219,078.03 $965.81 $0.00 $1,238.70 $221,282.54
235 $221,282.54 $965.81 $0.00 $1,251.16 $223,499.51
236 $223,499.51 $965.81 $0.00 $1,263.70 $225,729.02
237 $225,729.02 $965.81 $0.00 $1,276.30 $227,971.13
238 $227,971.13 $965.81 $0.00 $1,288.98 $230,225.92
239 $230,225.92 $965.81 $0.00 $1,301.73 $232,493.46
240 $232,493.46 $965.81 $0.00 $1,314.55 $234,773.82
241 $234,773.82 $965.81 $124,837.66 $1,327.45 $112,229.42
242 $112,229.42 $965.81 $0.00 $634.56 $113,829.79
243 $113,829.79 $965.81 $0.00 $643.61 $115,439.21
244 $115,439.21 $965.81 $0.00 $652.71 $117,057.73
245 $117,057.73 $965.81 $0.00 $661.86 $118,685.40
246 $118,685.40 $965.81 $0.00 $671.06 $120,322.27
247 $120,322.27 $965.81 $0.00 $680.32 $121,968.40
248 $121,968.40 $965.81 $0.00 $689.63 $123,623.84
249 $123,623.84 $965.81 $0.00 $698.99 $125,288.64
250 $125,288.64 $965.81 $0.00 $708.40 $126,962.85
251 $126,962.85 $965.81 $0.00 $717.87 $128,646.53
252 $128,646.53 $965.81 $0.00 $727.39 $130,339.73
253 $130,339.73 $0.00 $131,079.54 $736.96 ($2.85)