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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$107,997
Monthly savings required$855

How much will it cost to send your child to Martin Methodist College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $431,986.87 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $854.88 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$41,646.00
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 $854.88 $0.00 $0.00 $854.88
2 $854.88 $854.88 $0.00 $4.83 $1,714.59
3 $1,714.59 $854.88 $0.00 $9.69 $2,579.16
4 $2,579.16 $854.88 $0.00 $14.58 $3,448.62
5 $3,448.62 $854.88 $0.00 $19.50 $4,323.00
6 $4,323.00 $854.88 $0.00 $24.44 $5,202.32
7 $5,202.32 $854.88 $0.00 $29.41 $6,086.61
8 $6,086.61 $854.88 $0.00 $34.41 $6,975.90
9 $6,975.90 $854.88 $0.00 $39.44 $7,870.22
10 $7,870.22 $854.88 $0.00 $44.50 $8,769.60
11 $8,769.60 $854.88 $0.00 $49.58 $9,674.06
12 $9,674.06 $854.88 $0.00 $54.70 $10,583.64
13 $10,583.64 $854.88 $0.00 $59.84 $11,498.36
14 $11,498.36 $854.88 $0.00 $65.01 $12,418.25
15 $12,418.25 $854.88 $0.00 $70.21 $13,343.34
16 $13,343.34 $854.88 $0.00 $75.45 $14,273.67
17 $14,273.67 $854.88 $0.00 $80.71 $15,209.26
18 $15,209.26 $854.88 $0.00 $86.00 $16,150.14
19 $16,150.14 $854.88 $0.00 $91.32 $17,096.34
20 $17,096.34 $854.88 $0.00 $96.67 $18,047.89
21 $18,047.89 $854.88 $0.00 $102.05 $19,004.82
22 $19,004.82 $854.88 $0.00 $107.46 $19,967.16
23 $19,967.16 $854.88 $0.00 $112.90 $20,934.94
24 $20,934.94 $854.88 $0.00 $118.37 $21,908.19
25 $21,908.19 $854.88 $0.00 $123.87 $22,886.94
26 $22,886.94 $854.88 $0.00 $129.41 $23,871.23
27 $23,871.23 $854.88 $0.00 $134.97 $24,861.08
28 $24,861.08 $854.88 $0.00 $140.57 $25,856.53
29 $25,856.53 $854.88 $0.00 $146.20 $26,857.61
30 $26,857.61 $854.88 $0.00 $151.86 $27,864.35
31 $27,864.35 $854.88 $0.00 $157.55 $28,876.78
32 $28,876.78 $854.88 $0.00 $163.27 $29,894.93
33 $29,894.93 $854.88 $0.00 $169.03 $30,918.84
34 $30,918.84 $854.88 $0.00 $174.82 $31,948.54
35 $31,948.54 $854.88 $0.00 $180.64 $32,984.06
36 $32,984.06 $854.88 $0.00 $186.50 $34,025.44
37 $34,025.44 $854.88 $0.00 $192.38 $35,072.70
38 $35,072.70 $854.88 $0.00 $198.31 $36,125.89
39 $36,125.89 $854.88 $0.00 $204.26 $37,185.03
40 $37,185.03 $854.88 $0.00 $210.25 $38,250.16
41 $38,250.16 $854.88 $0.00 $216.27 $39,321.31
42 $39,321.31 $854.88 $0.00 $222.33 $40,398.52
43 $40,398.52 $854.88 $0.00 $228.42 $41,481.82
44 $41,481.82 $854.88 $0.00 $234.54 $42,571.24
45 $42,571.24 $854.88 $0.00 $240.70 $43,666.82
46 $43,666.82 $854.88 $0.00 $246.90 $44,768.60
47 $44,768.60 $854.88 $0.00 $253.13 $45,876.61
48 $45,876.61 $854.88 $0.00 $259.39 $46,990.88
49 $46,990.88 $854.88 $0.00 $265.69 $48,111.45
50 $48,111.45 $854.88 $0.00 $272.03 $49,238.36
51 $49,238.36 $854.88 $0.00 $278.40 $50,371.64
52 $50,371.64 $854.88 $0.00 $284.81 $51,511.33
53 $51,511.33 $854.88 $0.00 $291.25 $52,657.46
54 $52,657.46 $854.88 $0.00 $297.73 $53,810.07
55 $53,810.07 $854.88 $0.00 $304.25 $54,969.20
56 $54,969.20 $854.88 $0.00 $310.80 $56,134.88
57 $56,134.88 $854.88 $0.00 $317.39 $57,307.15
58 $57,307.15 $854.88 $0.00 $324.02 $58,486.05
59 $58,486.05 $854.88 $0.00 $330.69 $59,671.62
60 $59,671.62 $854.88 $0.00 $337.39 $60,863.89
61 $60,863.89 $854.88 $0.00 $344.13 $62,062.90
62 $62,062.90 $854.88 $0.00 $350.91 $63,268.69
63 $63,268.69 $854.88 $0.00 $357.73 $64,481.30
64 $64,481.30 $854.88 $0.00 $364.59 $65,700.77
65 $65,700.77 $854.88 $0.00 $371.48 $66,927.13
66 $66,927.13 $854.88 $0.00 $378.42 $68,160.43
67 $68,160.43 $854.88 $0.00 $385.39 $69,400.70
68 $69,400.70 $854.88 $0.00 $392.40 $70,647.98
69 $70,647.98 $854.88 $0.00 $399.45 $71,902.31
70 $71,902.31 $854.88 $0.00 $406.55 $73,163.74
71 $73,163.74 $854.88 $0.00 $413.68 $74,432.30
72 $74,432.30 $854.88 $0.00 $420.85 $75,708.03
73 $75,708.03 $854.88 $0.00 $428.06 $76,990.97
74 $76,990.97 $854.88 $0.00 $435.32 $78,281.17
75 $78,281.17 $854.88 $0.00 $442.61 $79,578.66
76 $79,578.66 $854.88 $0.00 $449.95 $80,883.49
77 $80,883.49 $854.88 $0.00 $457.33 $82,195.70
78 $82,195.70 $854.88 $0.00 $464.75 $83,515.33
79 $83,515.33 $854.88 $0.00 $472.21 $84,842.42
80 $84,842.42 $854.88 $0.00 $479.71 $86,177.01
81 $86,177.01 $854.88 $0.00 $487.26 $87,519.15
82 $87,519.15 $854.88 $0.00 $494.85 $88,868.88
83 $88,868.88 $854.88 $0.00 $502.48 $90,226.24
84 $90,226.24 $854.88 $0.00 $510.15 $91,591.27
85 $91,591.27 $854.88 $0.00 $517.87 $92,964.02
86 $92,964.02 $854.88 $0.00 $525.63 $94,344.53
87 $94,344.53 $854.88 $0.00 $533.44 $95,732.85
88 $95,732.85 $854.88 $0.00 $541.29 $97,129.02
89 $97,129.02 $854.88 $0.00 $549.18 $98,533.08
90 $98,533.08 $854.88 $0.00 $557.12 $99,945.08
91 $99,945.08 $854.88 $0.00 $565.10 $101,365.06
92 $101,365.06 $854.88 $0.00 $573.13 $102,793.07
93 $102,793.07 $854.88 $0.00 $581.21 $104,229.16
94 $104,229.16 $854.88 $0.00 $589.33 $105,673.37
95 $105,673.37 $854.88 $0.00 $597.49 $107,125.74
96 $107,125.74 $854.88 $0.00 $605.70 $108,586.32
97 $108,586.32 $854.88 $0.00 $613.96 $110,055.16
98 $110,055.16 $854.88 $0.00 $622.27 $111,532.31
99 $111,532.31 $854.88 $0.00 $630.62 $113,017.81
100 $113,017.81 $854.88 $0.00 $639.02 $114,511.71
101 $114,511.71 $854.88 $0.00 $647.47 $116,014.06
102 $116,014.06 $854.88 $0.00 $655.96 $117,524.90
103 $117,524.90 $854.88 $0.00 $664.50 $119,044.28
104 $119,044.28 $854.88 $0.00 $673.09 $120,572.25
105 $120,572.25 $854.88 $0.00 $681.73 $122,108.86
106 $122,108.86 $854.88 $0.00 $690.42 $123,654.16
107 $123,654.16 $854.88 $0.00 $699.16 $125,208.20
108 $125,208.20 $854.88 $0.00 $707.95 $126,771.03
109 $126,771.03 $854.88 $0.00 $716.78 $128,342.69
110 $128,342.69 $854.88 $0.00 $725.67 $129,923.24
111 $129,923.24 $854.88 $0.00 $734.60 $131,512.72
112 $131,512.72 $854.88 $0.00 $743.59 $133,111.19
113 $133,111.19 $854.88 $0.00 $752.63 $134,718.70
114 $134,718.70 $854.88 $0.00 $761.72 $136,335.30
115 $136,335.30 $854.88 $0.00 $770.86 $137,961.04
116 $137,961.04 $854.88 $0.00 $780.05 $139,595.97
117 $139,595.97 $854.88 $0.00 $789.30 $141,240.15
118 $141,240.15 $854.88 $0.00 $798.59 $142,893.62
119 $142,893.62 $854.88 $0.00 $807.94 $144,556.44
120 $144,556.44 $854.88 $0.00 $817.34 $146,228.66
121 $146,228.66 $854.88 $0.00 $826.80 $147,910.34
122 $147,910.34 $854.88 $0.00 $836.31 $149,601.53
123 $149,601.53 $854.88 $0.00 $845.87 $151,302.28
124 $151,302.28 $854.88 $0.00 $855.49 $153,012.65
125 $153,012.65 $854.88 $0.00 $865.16 $154,732.69
126 $154,732.69 $854.88 $0.00 $874.88 $156,462.45
127 $156,462.45 $854.88 $0.00 $884.66 $158,201.99
128 $158,201.99 $854.88 $0.00 $894.50 $159,951.37
129 $159,951.37 $854.88 $0.00 $904.39 $161,710.64
130 $161,710.64 $854.88 $0.00 $914.34 $163,479.86
131 $163,479.86 $854.88 $0.00 $924.34 $165,259.08
132 $165,259.08 $854.88 $0.00 $934.40 $167,048.36
133 $167,048.36 $854.88 $0.00 $944.52 $168,847.76
134 $168,847.76 $854.88 $0.00 $954.69 $170,657.33
135 $170,657.33 $854.88 $0.00 $964.92 $172,477.13
136 $172,477.13 $854.88 $0.00 $975.21 $174,307.22
137 $174,307.22 $854.88 $0.00 $985.56 $176,147.66
138 $176,147.66 $854.88 $0.00 $995.96 $177,998.50
139 $177,998.50 $854.88 $0.00 $1,006.43 $179,859.81
140 $179,859.81 $854.88 $0.00 $1,016.95 $181,731.64
141 $181,731.64 $854.88 $0.00 $1,027.54 $183,614.06
142 $183,614.06 $854.88 $0.00 $1,038.18 $185,507.12
143 $185,507.12 $854.88 $0.00 $1,048.88 $187,410.88
144 $187,410.88 $854.88 $0.00 $1,059.65 $189,325.41
145 $189,325.41 $854.88 $0.00 $1,070.47 $191,250.76
146 $191,250.76 $854.88 $0.00 $1,081.36 $193,187.00
147 $193,187.00 $854.88 $0.00 $1,092.31 $195,134.19
148 $195,134.19 $854.88 $0.00 $1,103.32 $197,092.39
149 $197,092.39 $854.88 $0.00 $1,114.39 $199,061.66
150 $199,061.66 $854.88 $0.00 $1,125.52 $201,042.06
151 $201,042.06 $854.88 $0.00 $1,136.72 $203,033.66
152 $203,033.66 $854.88 $0.00 $1,147.98 $205,036.52
153 $205,036.52 $854.88 $0.00 $1,159.31 $207,050.71
154 $207,050.71 $854.88 $0.00 $1,170.69 $209,076.28
155 $209,076.28 $854.88 $0.00 $1,182.15 $211,113.31
156 $211,113.31 $854.88 $0.00 $1,193.67 $213,161.86
157 $213,161.86 $854.88 $0.00 $1,205.25 $215,221.99
158 $215,221.99 $854.88 $0.00 $1,216.90 $217,293.77
159 $217,293.77 $854.88 $0.00 $1,228.61 $219,377.26
160 $219,377.26 $854.88 $0.00 $1,240.39 $221,472.53
161 $221,472.53 $854.88 $0.00 $1,252.24 $223,579.65
162 $223,579.65 $854.88 $0.00 $1,264.15 $225,698.68
163 $225,698.68 $854.88 $0.00 $1,276.13 $227,829.69
164 $227,829.69 $854.88 $0.00 $1,288.18 $229,972.75
165 $229,972.75 $854.88 $0.00 $1,300.30 $232,127.93
166 $232,127.93 $854.88 $0.00 $1,312.49 $234,295.30
167 $234,295.30 $854.88 $0.00 $1,324.74 $236,474.92
168 $236,474.92 $854.88 $0.00 $1,337.06 $238,666.86
169 $238,666.86 $854.88 $0.00 $1,349.46 $240,871.20
170 $240,871.20 $854.88 $0.00 $1,361.92 $243,088.00
171 $243,088.00 $854.88 $0.00 $1,374.45 $245,317.33
172 $245,317.33 $854.88 $0.00 $1,387.06 $247,559.27
173 $247,559.27 $854.88 $0.00 $1,399.74 $249,813.89
174 $249,813.89 $854.88 $0.00 $1,412.48 $252,081.25
175 $252,081.25 $854.88 $0.00 $1,425.30 $254,361.43
176 $254,361.43 $854.88 $0.00 $1,438.20 $256,654.51
177 $256,654.51 $854.88 $0.00 $1,451.16 $258,960.55
178 $258,960.55 $854.88 $0.00 $1,464.20 $261,279.63
179 $261,279.63 $854.88 $0.00 $1,477.31 $263,611.82
180 $263,611.82 $854.88 $0.00 $1,490.50 $265,957.20
181 $265,957.20 $854.88 $0.00 $1,503.76 $268,315.84
182 $268,315.84 $854.88 $0.00 $1,517.10 $270,687.82
183 $270,687.82 $854.88 $0.00 $1,530.51 $273,073.21
184 $273,073.21 $854.88 $0.00 $1,544.00 $275,472.09
185 $275,472.09 $854.88 $0.00 $1,557.56 $277,884.53
186 $277,884.53 $854.88 $0.00 $1,571.20 $280,310.61
187 $280,310.61 $854.88 $0.00 $1,584.92 $282,750.41
188 $282,750.41 $854.88 $0.00 $1,598.71 $285,204.00
189 $285,204.00 $854.88 $0.00 $1,612.58 $287,671.46
190 $287,671.46 $854.88 $0.00 $1,626.54 $290,152.88
191 $290,152.88 $854.88 $0.00 $1,640.57 $292,648.33
192 $292,648.33 $854.88 $0.00 $1,654.68 $295,157.89
193 $295,157.89 $854.88 $0.00 $1,668.87 $297,681.64
194 $297,681.64 $854.88 $0.00 $1,683.14 $300,219.66
195 $300,219.66 $854.88 $0.00 $1,697.49 $302,772.03
196 $302,772.03 $854.88 $0.00 $1,711.92 $305,338.83
197 $305,338.83 $854.88 $0.00 $1,726.43 $307,920.14
198 $307,920.14 $854.88 $0.00 $1,741.03 $310,516.05
199 $310,516.05 $854.88 $0.00 $1,755.70 $313,126.63
200 $313,126.63 $854.88 $0.00 $1,770.46 $315,751.97
201 $315,751.97 $854.88 $0.00 $1,785.31 $318,392.16
202 $318,392.16 $854.88 $0.00 $1,800.24 $321,047.28
203 $321,047.28 $854.88 $0.00 $1,815.25 $323,717.41
204 $323,717.41 $854.88 $0.00 $1,830.35 $326,402.64
205 $326,402.64 $854.88 $0.00 $1,845.53 $329,103.05
206 $329,103.05 $854.88 $0.00 $1,860.80 $331,818.73
207 $331,818.73 $854.88 $0.00 $1,876.15 $334,549.76
208 $334,549.76 $854.88 $0.00 $1,891.59 $337,296.23
209 $337,296.23 $854.88 $0.00 $1,907.12 $340,058.23
210 $340,058.23 $854.88 $0.00 $1,922.74 $342,835.85
211 $342,835.85 $854.88 $0.00 $1,938.44 $345,629.17
212 $345,629.17 $854.88 $0.00 $1,954.24 $348,438.29
213 $348,438.29 $854.88 $0.00 $1,970.12 $351,263.29
214 $351,263.29 $854.88 $0.00 $1,986.09 $354,104.26
215 $354,104.26 $854.88 $0.00 $2,002.16 $356,961.30
216 $356,961.30 $854.88 $0.00 $2,018.31 $359,834.49
217 $359,834.49 $854.88 $100,226.06 $2,034.56 $262,497.87
218 $262,497.87 $854.88 $0.00 $1,484.20 $264,836.95
219 $264,836.95 $854.88 $0.00 $1,497.43 $267,189.26
220 $267,189.26 $854.88 $0.00 $1,510.73 $269,554.87
221 $269,554.87 $854.88 $0.00 $1,524.10 $271,933.85
222 $271,933.85 $854.88 $0.00 $1,537.55 $274,326.28
223 $274,326.28 $854.88 $0.00 $1,551.08 $276,732.24
224 $276,732.24 $854.88 $0.00 $1,564.68 $279,151.80
225 $279,151.80 $854.88 $0.00 $1,578.36 $281,585.04
226 $281,585.04 $854.88 $0.00 $1,592.12 $284,032.04
227 $284,032.04 $854.88 $0.00 $1,605.96 $286,492.88
228 $286,492.88 $854.88 $0.00 $1,619.87 $288,967.63
229 $288,967.63 $854.88 $105,237.37 $1,633.86 $186,219.00
230 $186,219.00 $854.88 $0.00 $1,052.91 $188,126.79
231 $188,126.79 $854.88 $0.00 $1,063.70 $190,045.37
232 $190,045.37 $854.88 $0.00 $1,074.54 $191,974.79
233 $191,974.79 $854.88 $0.00 $1,085.45 $193,915.12
234 $193,915.12 $854.88 $0.00 $1,096.42 $195,866.42
235 $195,866.42 $854.88 $0.00 $1,107.46 $197,828.76
236 $197,828.76 $854.88 $0.00 $1,118.55 $199,802.19
237 $199,802.19 $854.88 $0.00 $1,129.71 $201,786.78
238 $201,786.78 $854.88 $0.00 $1,140.93 $203,782.59
239 $203,782.59 $854.88 $0.00 $1,152.22 $205,789.69
240 $205,789.69 $854.88 $0.00 $1,163.56 $207,808.13
241 $207,808.13 $854.88 $110,499.24 $1,174.98 $99,338.75
242 $99,338.75 $854.88 $0.00 $561.68 $100,755.31
243 $100,755.31 $854.88 $0.00 $569.69 $102,179.88
244 $102,179.88 $854.88 $0.00 $577.74 $103,612.50
245 $103,612.50 $854.88 $0.00 $585.84 $105,053.22
246 $105,053.22 $854.88 $0.00 $593.99 $106,502.09
247 $106,502.09 $854.88 $0.00 $602.18 $107,959.15
248 $107,959.15 $854.88 $0.00 $610.42 $109,424.45
249 $109,424.45 $854.88 $0.00 $618.70 $110,898.03
250 $110,898.03 $854.88 $0.00 $627.03 $112,379.94
251 $112,379.94 $854.88 $0.00 $635.41 $113,870.23
252 $113,870.23 $854.88 $0.00 $643.84 $115,368.95
253 $115,368.95 $0.00 $116,024.20 $652.31 ($2.94)