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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$69,618
Monthly savings required$309

How much will it cost to send your child to Golf Academy of America Myrtle Beach in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $139,235.20 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $309.40 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$28,222.00
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 $309.40 $0.00 $0.00 $309.40
2 $309.40 $309.40 $0.00 $1.75 $620.55
3 $620.55 $309.40 $0.00 $3.51 $933.46
4 $933.46 $309.40 $0.00 $5.28 $1,248.14
5 $1,248.14 $309.40 $0.00 $7.06 $1,564.60
6 $1,564.60 $309.40 $0.00 $8.85 $1,882.85
7 $1,882.85 $309.40 $0.00 $10.65 $2,202.90
8 $2,202.90 $309.40 $0.00 $12.46 $2,524.76
9 $2,524.76 $309.40 $0.00 $14.28 $2,848.44
10 $2,848.44 $309.40 $0.00 $16.11 $3,173.95
11 $3,173.95 $309.40 $0.00 $17.95 $3,501.30
12 $3,501.30 $309.40 $0.00 $19.80 $3,830.50
13 $3,830.50 $309.40 $0.00 $21.66 $4,161.56
14 $4,161.56 $309.40 $0.00 $23.53 $4,494.49
15 $4,494.49 $309.40 $0.00 $25.41 $4,829.30
16 $4,829.30 $309.40 $0.00 $27.31 $5,166.01
17 $5,166.01 $309.40 $0.00 $29.21 $5,504.62
18 $5,504.62 $309.40 $0.00 $31.12 $5,845.14
19 $5,845.14 $309.40 $0.00 $33.05 $6,187.59
20 $6,187.59 $309.40 $0.00 $34.99 $6,531.98
21 $6,531.98 $309.40 $0.00 $36.93 $6,878.31
22 $6,878.31 $309.40 $0.00 $38.89 $7,226.60
23 $7,226.60 $309.40 $0.00 $40.86 $7,576.86
24 $7,576.86 $309.40 $0.00 $42.84 $7,929.10
25 $7,929.10 $309.40 $0.00 $44.83 $8,283.33
26 $8,283.33 $309.40 $0.00 $46.84 $8,639.57
27 $8,639.57 $309.40 $0.00 $48.85 $8,997.82
28 $8,997.82 $309.40 $0.00 $50.87 $9,358.09
29 $9,358.09 $309.40 $0.00 $52.91 $9,720.40
30 $9,720.40 $309.40 $0.00 $54.96 $10,084.76
31 $10,084.76 $309.40 $0.00 $57.02 $10,451.18
32 $10,451.18 $309.40 $0.00 $59.09 $10,819.67
33 $10,819.67 $309.40 $0.00 $61.18 $11,190.25
34 $11,190.25 $309.40 $0.00 $63.27 $11,562.92
35 $11,562.92 $309.40 $0.00 $65.38 $11,937.70
36 $11,937.70 $309.40 $0.00 $67.50 $12,314.60
37 $12,314.60 $309.40 $0.00 $69.63 $12,693.63
38 $12,693.63 $309.40 $0.00 $71.77 $13,074.80
39 $13,074.80 $309.40 $0.00 $73.93 $13,458.13
40 $13,458.13 $309.40 $0.00 $76.09 $13,843.62
41 $13,843.62 $309.40 $0.00 $78.27 $14,231.29
42 $14,231.29 $309.40 $0.00 $80.47 $14,621.16
43 $14,621.16 $309.40 $0.00 $82.67 $15,013.23
44 $15,013.23 $309.40 $0.00 $84.89 $15,407.52
45 $15,407.52 $309.40 $0.00 $87.12 $15,804.04
46 $15,804.04 $309.40 $0.00 $89.36 $16,202.80
47 $16,202.80 $309.40 $0.00 $91.61 $16,603.81
48 $16,603.81 $309.40 $0.00 $93.88 $17,007.09
49 $17,007.09 $309.40 $0.00 $96.16 $17,412.65
50 $17,412.65 $309.40 $0.00 $98.45 $17,820.50
51 $17,820.50 $309.40 $0.00 $100.76 $18,230.66
52 $18,230.66 $309.40 $0.00 $103.08 $18,643.14
53 $18,643.14 $309.40 $0.00 $105.41 $19,057.95
54 $19,057.95 $309.40 $0.00 $107.76 $19,475.11
55 $19,475.11 $309.40 $0.00 $110.12 $19,894.63
56 $19,894.63 $309.40 $0.00 $112.49 $20,316.52
57 $20,316.52 $309.40 $0.00 $114.87 $20,740.79
58 $20,740.79 $309.40 $0.00 $117.27 $21,167.46
59 $21,167.46 $309.40 $0.00 $119.68 $21,596.54
60 $21,596.54 $309.40 $0.00 $122.11 $22,028.05
61 $22,028.05 $309.40 $0.00 $124.55 $22,462.00
62 $22,462.00 $309.40 $0.00 $127.00 $22,898.40
63 $22,898.40 $309.40 $0.00 $129.47 $23,337.27
64 $23,337.27 $309.40 $0.00 $131.95 $23,778.62
65 $23,778.62 $309.40 $0.00 $134.45 $24,222.47
66 $24,222.47 $309.40 $0.00 $136.96 $24,668.83
67 $24,668.83 $309.40 $0.00 $139.48 $25,117.71
68 $25,117.71 $309.40 $0.00 $142.02 $25,569.13
69 $25,569.13 $309.40 $0.00 $144.57 $26,023.10
70 $26,023.10 $309.40 $0.00 $147.14 $26,479.64
71 $26,479.64 $309.40 $0.00 $149.72 $26,938.76
72 $26,938.76 $309.40 $0.00 $152.32 $27,400.48
73 $27,400.48 $309.40 $0.00 $154.93 $27,864.81
74 $27,864.81 $309.40 $0.00 $157.55 $28,331.76
75 $28,331.76 $309.40 $0.00 $160.19 $28,801.35
76 $28,801.35 $309.40 $0.00 $162.85 $29,273.60
77 $29,273.60 $309.40 $0.00 $165.52 $29,748.52
78 $29,748.52 $309.40 $0.00 $168.20 $30,226.12
79 $30,226.12 $309.40 $0.00 $170.90 $30,706.42
80 $30,706.42 $309.40 $0.00 $173.62 $31,189.44
81 $31,189.44 $309.40 $0.00 $176.35 $31,675.19
82 $31,675.19 $309.40 $0.00 $179.10 $32,163.69
83 $32,163.69 $309.40 $0.00 $181.86 $32,654.95
84 $32,654.95 $309.40 $0.00 $184.64 $33,148.99
85 $33,148.99 $309.40 $0.00 $187.43 $33,645.82
86 $33,645.82 $309.40 $0.00 $190.24 $34,145.46
87 $34,145.46 $309.40 $0.00 $193.06 $34,647.92
88 $34,647.92 $309.40 $0.00 $195.90 $35,153.22
89 $35,153.22 $309.40 $0.00 $198.76 $35,661.38
90 $35,661.38 $309.40 $0.00 $201.63 $36,172.41
91 $36,172.41 $309.40 $0.00 $204.52 $36,686.33
92 $36,686.33 $309.40 $0.00 $207.43 $37,203.16
93 $37,203.16 $309.40 $0.00 $210.35 $37,722.91
94 $37,722.91 $309.40 $0.00 $213.29 $38,245.60
95 $38,245.60 $309.40 $0.00 $216.25 $38,771.25
96 $38,771.25 $309.40 $0.00 $219.22 $39,299.87
97 $39,299.87 $309.40 $0.00 $222.21 $39,831.48
98 $39,831.48 $309.40 $0.00 $225.21 $40,366.09
99 $40,366.09 $309.40 $0.00 $228.24 $40,903.73
100 $40,903.73 $309.40 $0.00 $231.28 $41,444.41
101 $41,444.41 $309.40 $0.00 $234.33 $41,988.14
102 $41,988.14 $309.40 $0.00 $237.41 $42,534.95
103 $42,534.95 $309.40 $0.00 $240.50 $43,084.85
104 $43,084.85 $309.40 $0.00 $243.61 $43,637.86
105 $43,637.86 $309.40 $0.00 $246.73 $44,193.99
106 $44,193.99 $309.40 $0.00 $249.88 $44,753.27
107 $44,753.27 $309.40 $0.00 $253.04 $45,315.71
108 $45,315.71 $309.40 $0.00 $256.22 $45,881.33
109 $45,881.33 $309.40 $0.00 $259.42 $46,450.15
110 $46,450.15 $309.40 $0.00 $262.64 $47,022.19
111 $47,022.19 $309.40 $0.00 $265.87 $47,597.46
112 $47,597.46 $309.40 $0.00 $269.12 $48,175.98
113 $48,175.98 $309.40 $0.00 $272.39 $48,757.77
114 $48,757.77 $309.40 $0.00 $275.68 $49,342.85
115 $49,342.85 $309.40 $0.00 $278.99 $49,931.24
116 $49,931.24 $309.40 $0.00 $282.32 $50,522.96
117 $50,522.96 $309.40 $0.00 $285.66 $51,118.02
118 $51,118.02 $309.40 $0.00 $289.03 $51,716.45
119 $51,716.45 $309.40 $0.00 $292.41 $52,318.26
120 $52,318.26 $309.40 $0.00 $295.82 $52,923.48
121 $52,923.48 $309.40 $0.00 $299.24 $53,532.12
122 $53,532.12 $309.40 $0.00 $302.68 $54,144.20
123 $54,144.20 $309.40 $0.00 $306.14 $54,759.74
124 $54,759.74 $309.40 $0.00 $309.62 $55,378.76
125 $55,378.76 $309.40 $0.00 $313.12 $56,001.28
126 $56,001.28 $309.40 $0.00 $316.64 $56,627.32
127 $56,627.32 $309.40 $0.00 $320.18 $57,256.90
128 $57,256.90 $309.40 $0.00 $323.74 $57,890.04
129 $57,890.04 $309.40 $0.00 $327.32 $58,526.76
130 $58,526.76 $309.40 $0.00 $330.92 $59,167.08
131 $59,167.08 $309.40 $0.00 $334.54 $59,811.02
132 $59,811.02 $309.40 $0.00 $338.18 $60,458.60
133 $60,458.60 $309.40 $0.00 $341.84 $61,109.84
134 $61,109.84 $309.40 $0.00 $345.52 $61,764.76
135 $61,764.76 $309.40 $0.00 $349.23 $62,423.39
136 $62,423.39 $309.40 $0.00 $352.95 $63,085.74
137 $63,085.74 $309.40 $0.00 $356.70 $63,751.84
138 $63,751.84 $309.40 $0.00 $360.46 $64,421.70
139 $64,421.70 $309.40 $0.00 $364.25 $65,095.35
140 $65,095.35 $309.40 $0.00 $368.06 $65,772.81
141 $65,772.81 $309.40 $0.00 $371.89 $66,454.10
142 $66,454.10 $309.40 $0.00 $375.74 $67,139.24
143 $67,139.24 $309.40 $0.00 $379.62 $67,828.26
144 $67,828.26 $309.40 $0.00 $383.51 $68,521.17
145 $68,521.17 $309.40 $0.00 $387.43 $69,218.00
146 $69,218.00 $309.40 $0.00 $391.37 $69,918.77
147 $69,918.77 $309.40 $0.00 $395.33 $70,623.50
148 $70,623.50 $309.40 $0.00 $399.32 $71,332.22
149 $71,332.22 $309.40 $0.00 $403.32 $72,044.94
150 $72,044.94 $309.40 $0.00 $407.35 $72,761.69
151 $72,761.69 $309.40 $0.00 $411.41 $73,482.50
152 $73,482.50 $309.40 $0.00 $415.48 $74,207.38
153 $74,207.38 $309.40 $0.00 $419.58 $74,936.36
154 $74,936.36 $309.40 $0.00 $423.70 $75,669.46
155 $75,669.46 $309.40 $0.00 $427.85 $76,406.71
156 $76,406.71 $309.40 $0.00 $432.01 $77,148.12
157 $77,148.12 $309.40 $0.00 $436.21 $77,893.73
158 $77,893.73 $309.40 $0.00 $440.42 $78,643.55
159 $78,643.55 $309.40 $0.00 $444.66 $79,397.61
160 $79,397.61 $309.40 $0.00 $448.93 $80,155.94
161 $80,155.94 $309.40 $0.00 $453.21 $80,918.55
162 $80,918.55 $309.40 $0.00 $457.53 $81,685.48
163 $81,685.48 $309.40 $0.00 $461.86 $82,456.74
164 $82,456.74 $309.40 $0.00 $466.22 $83,232.36
165 $83,232.36 $309.40 $0.00 $470.61 $84,012.37
166 $84,012.37 $309.40 $0.00 $475.02 $84,796.79
167 $84,796.79 $309.40 $0.00 $479.45 $85,585.64
168 $85,585.64 $309.40 $0.00 $483.91 $86,378.95
169 $86,378.95 $309.40 $0.00 $488.40 $87,176.75
170 $87,176.75 $309.40 $0.00 $492.91 $87,979.06
171 $87,979.06 $309.40 $0.00 $497.45 $88,785.91
172 $88,785.91 $309.40 $0.00 $502.01 $89,597.32
173 $89,597.32 $309.40 $0.00 $506.60 $90,413.32
174 $90,413.32 $309.40 $0.00 $511.21 $91,233.93
175 $91,233.93 $309.40 $0.00 $515.85 $92,059.18
176 $92,059.18 $309.40 $0.00 $520.52 $92,889.10
177 $92,889.10 $309.40 $0.00 $525.21 $93,723.71
178 $93,723.71 $309.40 $0.00 $529.93 $94,563.04
179 $94,563.04 $309.40 $0.00 $534.67 $95,407.11
180 $95,407.11 $309.40 $0.00 $539.45 $96,255.96
181 $96,255.96 $309.40 $0.00 $544.25 $97,109.61
182 $97,109.61 $309.40 $0.00 $549.07 $97,968.08
183 $97,968.08 $309.40 $0.00 $553.93 $98,831.41
184 $98,831.41 $309.40 $0.00 $558.81 $99,699.62
185 $99,699.62 $309.40 $0.00 $563.72 $100,572.74
186 $100,572.74 $309.40 $0.00 $568.65 $101,450.79
187 $101,450.79 $309.40 $0.00 $573.62 $102,333.81
188 $102,333.81 $309.40 $0.00 $578.61 $103,221.82
189 $103,221.82 $309.40 $0.00 $583.63 $104,114.85
190 $104,114.85 $309.40 $0.00 $588.68 $105,012.93
191 $105,012.93 $309.40 $0.00 $593.76 $105,916.09
192 $105,916.09 $309.40 $0.00 $598.86 $106,824.35
193 $106,824.35 $309.40 $0.00 $604.00 $107,737.75
194 $107,737.75 $309.40 $0.00 $609.16 $108,656.31
195 $108,656.31 $309.40 $0.00 $614.36 $109,580.07
196 $109,580.07 $309.40 $0.00 $619.58 $110,509.05
197 $110,509.05 $309.40 $0.00 $624.83 $111,443.28
198 $111,443.28 $309.40 $0.00 $630.12 $112,382.80
199 $112,382.80 $309.40 $0.00 $635.43 $113,327.63
200 $113,327.63 $309.40 $0.00 $640.77 $114,277.80
201 $114,277.80 $309.40 $0.00 $646.14 $115,233.34
202 $115,233.34 $309.40 $0.00 $651.55 $116,194.29
203 $116,194.29 $309.40 $0.00 $656.98 $117,160.67
204 $117,160.67 $309.40 $0.00 $662.44 $118,132.51
205 $118,132.51 $309.40 $0.00 $667.94 $119,109.85
206 $119,109.85 $309.40 $0.00 $673.46 $120,092.71
207 $120,092.71 $309.40 $0.00 $679.02 $121,081.13
208 $121,081.13 $309.40 $0.00 $684.61 $122,075.14
209 $122,075.14 $309.40 $0.00 $690.23 $123,074.77
210 $123,074.77 $309.40 $0.00 $695.88 $124,080.05
211 $124,080.05 $309.40 $0.00 $701.57 $125,091.02
212 $125,091.02 $309.40 $0.00 $707.28 $126,107.70
213 $126,107.70 $309.40 $0.00 $713.03 $127,130.13
214 $127,130.13 $309.40 $0.00 $718.81 $128,158.34
215 $128,158.34 $309.40 $0.00 $724.63 $129,192.37
216 $129,192.37 $309.40 $0.00 $730.47 $130,232.24
217 $130,232.24 $309.40 $67,919.61 $736.35 $63,358.38
218 $63,358.38 $309.40 $0.00 $358.24 $64,026.02
219 $64,026.02 $309.40 $0.00 $362.01 $64,697.43
220 $64,697.43 $309.40 $0.00 $365.81 $65,372.64
221 $65,372.64 $309.40 $0.00 $369.63 $66,051.67
222 $66,051.67 $309.40 $0.00 $373.47 $66,734.54
223 $66,734.54 $309.40 $0.00 $377.33 $67,421.27
224 $67,421.27 $309.40 $0.00 $381.21 $68,111.88
225 $68,111.88 $309.40 $0.00 $385.11 $68,806.39
226 $68,806.39 $309.40 $0.00 $389.04 $69,504.83
227 $69,504.83 $309.40 $0.00 $392.99 $70,207.22
228 $70,207.22 $309.40 $0.00 $396.96 $70,913.58
229 $70,913.58 $0.00 $71,315.59 $400.96 ($1.05)