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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$52,748
Monthly savings required$418

How much will it cost to send your child to Eagle Gate College Murray in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $210,993.73 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $417.55 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$20,341.00
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 $417.55 $0.00 $0.00 $417.55
2 $417.55 $417.55 $0.00 $2.36 $837.46
3 $837.46 $417.55 $0.00 $4.74 $1,259.75
4 $1,259.75 $417.55 $0.00 $7.12 $1,684.42
5 $1,684.42 $417.55 $0.00 $9.52 $2,111.49
6 $2,111.49 $417.55 $0.00 $11.94 $2,540.98
7 $2,540.98 $417.55 $0.00 $14.37 $2,972.90
8 $2,972.90 $417.55 $0.00 $16.81 $3,407.26
9 $3,407.26 $417.55 $0.00 $19.27 $3,844.08
10 $3,844.08 $417.55 $0.00 $21.73 $4,283.36
11 $4,283.36 $417.55 $0.00 $24.22 $4,725.13
12 $4,725.13 $417.55 $0.00 $26.72 $5,169.40
13 $5,169.40 $417.55 $0.00 $29.23 $5,616.18
14 $5,616.18 $417.55 $0.00 $31.75 $6,065.48
15 $6,065.48 $417.55 $0.00 $34.30 $6,517.33
16 $6,517.33 $417.55 $0.00 $36.85 $6,971.73
17 $6,971.73 $417.55 $0.00 $39.42 $7,428.70
18 $7,428.70 $417.55 $0.00 $42.00 $7,888.25
19 $7,888.25 $417.55 $0.00 $44.60 $8,350.40
20 $8,350.40 $417.55 $0.00 $47.21 $8,815.16
21 $8,815.16 $417.55 $0.00 $49.84 $9,282.55
22 $9,282.55 $417.55 $0.00 $52.48 $9,752.58
23 $9,752.58 $417.55 $0.00 $55.14 $10,225.27
24 $10,225.27 $417.55 $0.00 $57.82 $10,700.64
25 $10,700.64 $417.55 $0.00 $60.50 $11,178.69
26 $11,178.69 $417.55 $0.00 $63.21 $11,659.45
27 $11,659.45 $417.55 $0.00 $65.92 $12,142.92
28 $12,142.92 $417.55 $0.00 $68.66 $12,629.13
29 $12,629.13 $417.55 $0.00 $71.41 $13,118.09
30 $13,118.09 $417.55 $0.00 $74.17 $13,609.81
31 $13,609.81 $417.55 $0.00 $76.95 $14,104.31
32 $14,104.31 $417.55 $0.00 $79.75 $14,601.61
33 $14,601.61 $417.55 $0.00 $82.56 $15,101.72
34 $15,101.72 $417.55 $0.00 $85.39 $15,604.66
35 $15,604.66 $417.55 $0.00 $88.23 $16,110.44
36 $16,110.44 $417.55 $0.00 $91.09 $16,619.08
37 $16,619.08 $417.55 $0.00 $93.97 $17,130.60
38 $17,130.60 $417.55 $0.00 $96.86 $17,645.01
39 $17,645.01 $417.55 $0.00 $99.77 $18,162.33
40 $18,162.33 $417.55 $0.00 $102.69 $18,682.57
41 $18,682.57 $417.55 $0.00 $105.63 $19,205.75
42 $19,205.75 $417.55 $0.00 $108.59 $19,731.89
43 $19,731.89 $417.55 $0.00 $111.57 $20,261.01
44 $20,261.01 $417.55 $0.00 $114.56 $20,793.12
45 $20,793.12 $417.55 $0.00 $117.57 $21,328.24
46 $21,328.24 $417.55 $0.00 $120.59 $21,866.38
47 $21,866.38 $417.55 $0.00 $123.64 $22,407.57
48 $22,407.57 $417.55 $0.00 $126.70 $22,951.82
49 $22,951.82 $417.55 $0.00 $129.77 $23,499.14
50 $23,499.14 $417.55 $0.00 $132.87 $24,049.56
51 $24,049.56 $417.55 $0.00 $135.98 $24,603.09
52 $24,603.09 $417.55 $0.00 $139.11 $25,159.75
53 $25,159.75 $417.55 $0.00 $142.26 $25,719.56
54 $25,719.56 $417.55 $0.00 $145.42 $26,282.53
55 $26,282.53 $417.55 $0.00 $148.61 $26,848.69
56 $26,848.69 $417.55 $0.00 $151.81 $27,418.05
57 $27,418.05 $417.55 $0.00 $155.03 $27,990.63
58 $27,990.63 $417.55 $0.00 $158.26 $28,566.44
59 $28,566.44 $417.55 $0.00 $161.52 $29,145.51
60 $29,145.51 $417.55 $0.00 $164.79 $29,727.85
61 $29,727.85 $417.55 $0.00 $168.09 $30,313.49
62 $30,313.49 $417.55 $0.00 $171.40 $30,902.44
63 $30,902.44 $417.55 $0.00 $174.73 $31,494.72
64 $31,494.72 $417.55 $0.00 $178.08 $32,090.35
65 $32,090.35 $417.55 $0.00 $181.44 $32,689.34
66 $32,689.34 $417.55 $0.00 $184.83 $33,291.72
67 $33,291.72 $417.55 $0.00 $188.24 $33,897.51
68 $33,897.51 $417.55 $0.00 $191.66 $34,506.72
69 $34,506.72 $417.55 $0.00 $195.11 $35,119.38
70 $35,119.38 $417.55 $0.00 $198.57 $35,735.50
71 $35,735.50 $417.55 $0.00 $202.05 $36,355.10
72 $36,355.10 $417.55 $0.00 $205.56 $36,978.21
73 $36,978.21 $417.55 $0.00 $209.08 $37,604.84
74 $37,604.84 $417.55 $0.00 $212.62 $38,235.01
75 $38,235.01 $417.55 $0.00 $216.19 $38,868.75
76 $38,868.75 $417.55 $0.00 $219.77 $39,506.07
77 $39,506.07 $417.55 $0.00 $223.37 $40,146.99
78 $40,146.99 $417.55 $0.00 $227.00 $40,791.54
79 $40,791.54 $417.55 $0.00 $230.64 $41,439.73
80 $41,439.73 $417.55 $0.00 $234.31 $42,091.59
81 $42,091.59 $417.55 $0.00 $237.99 $42,747.13
82 $42,747.13 $417.55 $0.00 $241.70 $43,406.38
83 $43,406.38 $417.55 $0.00 $245.43 $44,069.36
84 $44,069.36 $417.55 $0.00 $249.17 $44,736.08
85 $44,736.08 $417.55 $0.00 $252.94 $45,406.57
86 $45,406.57 $417.55 $0.00 $256.74 $46,080.86
87 $46,080.86 $417.55 $0.00 $260.55 $46,758.96
88 $46,758.96 $417.55 $0.00 $264.38 $47,440.89
89 $47,440.89 $417.55 $0.00 $268.24 $48,126.68
90 $48,126.68 $417.55 $0.00 $272.12 $48,816.35
91 $48,816.35 $417.55 $0.00 $276.01 $49,509.91
92 $49,509.91 $417.55 $0.00 $279.94 $50,207.40
93 $50,207.40 $417.55 $0.00 $283.88 $50,908.83
94 $50,908.83 $417.55 $0.00 $287.85 $51,614.23
95 $51,614.23 $417.55 $0.00 $291.83 $52,323.61
96 $52,323.61 $417.55 $0.00 $295.85 $53,037.01
97 $53,037.01 $417.55 $0.00 $299.88 $53,754.44
98 $53,754.44 $417.55 $0.00 $303.94 $54,475.93
99 $54,475.93 $417.55 $0.00 $308.01 $55,201.49
100 $55,201.49 $417.55 $0.00 $312.12 $55,931.16
101 $55,931.16 $417.55 $0.00 $316.24 $56,664.95
102 $56,664.95 $417.55 $0.00 $320.39 $57,402.89
103 $57,402.89 $417.55 $0.00 $324.56 $58,145.00
104 $58,145.00 $417.55 $0.00 $328.76 $58,891.31
105 $58,891.31 $417.55 $0.00 $332.98 $59,641.84
106 $59,641.84 $417.55 $0.00 $337.22 $60,396.61
107 $60,396.61 $417.55 $0.00 $341.49 $61,155.65
108 $61,155.65 $417.55 $0.00 $345.78 $61,918.98
109 $61,918.98 $417.55 $0.00 $350.10 $62,686.63
110 $62,686.63 $417.55 $0.00 $354.44 $63,458.62
111 $63,458.62 $417.55 $0.00 $358.80 $64,234.97
112 $64,234.97 $417.55 $0.00 $363.19 $65,015.71
113 $65,015.71 $417.55 $0.00 $367.61 $65,800.87
114 $65,800.87 $417.55 $0.00 $372.05 $66,590.47
115 $66,590.47 $417.55 $0.00 $376.51 $67,384.53
116 $67,384.53 $417.55 $0.00 $381.00 $68,183.08
117 $68,183.08 $417.55 $0.00 $385.52 $68,986.15
118 $68,986.15 $417.55 $0.00 $390.06 $69,793.76
119 $69,793.76 $417.55 $0.00 $394.62 $70,605.93
120 $70,605.93 $417.55 $0.00 $399.22 $71,422.70
121 $71,422.70 $417.55 $0.00 $403.83 $72,244.08
122 $72,244.08 $417.55 $0.00 $408.48 $73,070.11
123 $73,070.11 $417.55 $0.00 $413.15 $73,900.81
124 $73,900.81 $417.55 $0.00 $417.85 $74,736.21
125 $74,736.21 $417.55 $0.00 $422.57 $75,576.33
126 $75,576.33 $417.55 $0.00 $427.32 $76,421.20
127 $76,421.20 $417.55 $0.00 $432.10 $77,270.85
128 $77,270.85 $417.55 $0.00 $436.90 $78,125.30
129 $78,125.30 $417.55 $0.00 $441.73 $78,984.58
130 $78,984.58 $417.55 $0.00 $446.59 $79,848.72
131 $79,848.72 $417.55 $0.00 $451.48 $80,717.75
132 $80,717.75 $417.55 $0.00 $456.39 $81,591.69
133 $81,591.69 $417.55 $0.00 $461.33 $82,470.57
134 $82,470.57 $417.55 $0.00 $466.30 $83,354.42
135 $83,354.42 $417.55 $0.00 $471.30 $84,243.27
136 $84,243.27 $417.55 $0.00 $476.32 $85,137.14
137 $85,137.14 $417.55 $0.00 $481.38 $86,036.07
138 $86,036.07 $417.55 $0.00 $486.46 $86,940.08
139 $86,940.08 $417.55 $0.00 $491.57 $87,849.20
140 $87,849.20 $417.55 $0.00 $496.71 $88,763.46
141 $88,763.46 $417.55 $0.00 $501.88 $89,682.89
142 $89,682.89 $417.55 $0.00 $507.08 $90,607.52
143 $90,607.52 $417.55 $0.00 $512.31 $91,537.38
144 $91,537.38 $417.55 $0.00 $517.57 $92,472.50
145 $92,472.50 $417.55 $0.00 $522.85 $93,412.90
146 $93,412.90 $417.55 $0.00 $528.17 $94,358.62
147 $94,358.62 $417.55 $0.00 $533.52 $95,309.69
148 $95,309.69 $417.55 $0.00 $538.89 $96,266.13
149 $96,266.13 $417.55 $0.00 $544.30 $97,227.98
150 $97,227.98 $417.55 $0.00 $549.74 $98,195.27
151 $98,195.27 $417.55 $0.00 $555.21 $99,168.03
152 $99,168.03 $417.55 $0.00 $560.71 $100,146.29
153 $100,146.29 $417.55 $0.00 $566.24 $101,130.08
154 $101,130.08 $417.55 $0.00 $571.80 $102,119.43
155 $102,119.43 $417.55 $0.00 $577.40 $103,114.38
156 $103,114.38 $417.55 $0.00 $583.02 $104,114.95
157 $104,114.95 $417.55 $0.00 $588.68 $105,121.18
158 $105,121.18 $417.55 $0.00 $594.37 $106,133.10
159 $106,133.10 $417.55 $0.00 $600.09 $107,150.74
160 $107,150.74 $417.55 $0.00 $605.85 $108,174.14
161 $108,174.14 $417.55 $0.00 $611.63 $109,203.32
162 $109,203.32 $417.55 $0.00 $617.45 $110,238.32
163 $110,238.32 $417.55 $0.00 $623.30 $111,279.17
164 $111,279.17 $417.55 $0.00 $629.19 $112,325.91
165 $112,325.91 $417.55 $0.00 $635.11 $113,378.57
166 $113,378.57 $417.55 $0.00 $641.06 $114,437.18
167 $114,437.18 $417.55 $0.00 $647.04 $115,501.77
168 $115,501.77 $417.55 $0.00 $653.06 $116,572.38
169 $116,572.38 $417.55 $0.00 $659.12 $117,649.05
170 $117,649.05 $417.55 $0.00 $665.20 $118,731.80
171 $118,731.80 $417.55 $0.00 $671.33 $119,820.68
172 $119,820.68 $417.55 $0.00 $677.48 $120,915.71
173 $120,915.71 $417.55 $0.00 $683.68 $122,016.94
174 $122,016.94 $417.55 $0.00 $689.90 $123,124.39
175 $123,124.39 $417.55 $0.00 $696.16 $124,238.10
176 $124,238.10 $417.55 $0.00 $702.46 $125,358.11
177 $125,358.11 $417.55 $0.00 $708.79 $126,484.45
178 $126,484.45 $417.55 $0.00 $715.16 $127,617.16
179 $127,617.16 $417.55 $0.00 $721.57 $128,756.28
180 $128,756.28 $417.55 $0.00 $728.01 $129,901.84
181 $129,901.84 $417.55 $0.00 $734.48 $131,053.87
182 $131,053.87 $417.55 $0.00 $741.00 $132,212.42
183 $132,212.42 $417.55 $0.00 $747.55 $133,377.52
184 $133,377.52 $417.55 $0.00 $754.14 $134,549.21
185 $134,549.21 $417.55 $0.00 $760.76 $135,727.52
186 $135,727.52 $417.55 $0.00 $767.42 $136,912.49
187 $136,912.49 $417.55 $0.00 $774.12 $138,104.16
188 $138,104.16 $417.55 $0.00 $780.86 $139,302.57
189 $139,302.57 $417.55 $0.00 $787.64 $140,507.76
190 $140,507.76 $417.55 $0.00 $794.45 $141,719.76
191 $141,719.76 $417.55 $0.00 $801.30 $142,938.61
192 $142,938.61 $417.55 $0.00 $808.20 $144,164.36
193 $144,164.36 $417.55 $0.00 $815.13 $145,397.04
194 $145,397.04 $417.55 $0.00 $822.10 $146,636.69
195 $146,636.69 $417.55 $0.00 $829.11 $147,883.35
196 $147,883.35 $417.55 $0.00 $836.15 $149,137.05
197 $149,137.05 $417.55 $0.00 $843.24 $150,397.84
198 $150,397.84 $417.55 $0.00 $850.37 $151,665.76
199 $151,665.76 $417.55 $0.00 $857.54 $152,940.85
200 $152,940.85 $417.55 $0.00 $864.75 $154,223.15
201 $154,223.15 $417.55 $0.00 $872.00 $155,512.70
202 $155,512.70 $417.55 $0.00 $879.29 $156,809.54
203 $156,809.54 $417.55 $0.00 $886.62 $158,113.71
204 $158,113.71 $417.55 $0.00 $894.00 $159,425.26
205 $159,425.26 $417.55 $0.00 $901.41 $160,744.22
206 $160,744.22 $417.55 $0.00 $908.87 $162,070.64
207 $162,070.64 $417.55 $0.00 $916.37 $163,404.56
208 $163,404.56 $417.55 $0.00 $923.91 $164,746.02
209 $164,746.02 $417.55 $0.00 $931.50 $166,095.07
210 $166,095.07 $417.55 $0.00 $939.13 $167,451.75
211 $167,451.75 $417.55 $0.00 $946.80 $168,816.10
212 $168,816.10 $417.55 $0.00 $954.51 $170,188.16
213 $170,188.16 $417.55 $0.00 $962.27 $171,567.98
214 $171,567.98 $417.55 $0.00 $970.07 $172,955.60
215 $172,955.60 $417.55 $0.00 $977.92 $174,351.07
216 $174,351.07 $417.55 $0.00 $985.81 $175,754.43
217 $175,754.43 $417.55 $48,953.04 $993.74 $128,212.68
218 $128,212.68 $417.55 $0.00 $724.93 $129,355.16
219 $129,355.16 $417.55 $0.00 $731.39 $130,504.10
220 $130,504.10 $417.55 $0.00 $737.89 $131,659.54
221 $131,659.54 $417.55 $0.00 $744.42 $132,821.51
222 $132,821.51 $417.55 $0.00 $750.99 $133,990.05
223 $133,990.05 $417.55 $0.00 $757.60 $135,165.20
224 $135,165.20 $417.55 $0.00 $764.24 $136,346.99
225 $136,346.99 $417.55 $0.00 $770.93 $137,535.47
226 $137,535.47 $417.55 $0.00 $777.65 $138,730.67
227 $138,730.67 $417.55 $0.00 $784.40 $139,932.62
228 $139,932.62 $417.55 $0.00 $791.20 $141,141.37
229 $141,141.37 $417.55 $51,400.69 $798.03 $90,956.26
230 $90,956.26 $417.55 $0.00 $514.28 $91,888.09
231 $91,888.09 $417.55 $0.00 $519.55 $92,825.19
232 $92,825.19 $417.55 $0.00 $524.85 $93,767.59
233 $93,767.59 $417.55 $0.00 $530.18 $94,715.32
234 $94,715.32 $417.55 $0.00 $535.53 $95,668.40
235 $95,668.40 $417.55 $0.00 $540.92 $96,626.87
236 $96,626.87 $417.55 $0.00 $546.34 $97,590.76
237 $97,590.76 $417.55 $0.00 $551.79 $98,560.10
238 $98,560.10 $417.55 $0.00 $557.27 $99,534.92
239 $99,534.92 $417.55 $0.00 $562.78 $100,515.25
240 $100,515.25 $417.55 $0.00 $568.33 $101,501.13
241 $101,501.13 $417.55 $53,970.73 $573.90 $48,521.85
242 $48,521.85 $417.55 $0.00 $274.35 $49,213.75
243 $49,213.75 $417.55 $0.00 $278.26 $49,909.56
244 $49,909.56 $417.55 $0.00 $282.20 $50,609.31
245 $50,609.31 $417.55 $0.00 $286.15 $51,313.01
246 $51,313.01 $417.55 $0.00 $290.13 $52,020.69
247 $52,020.69 $417.55 $0.00 $294.13 $52,732.37
248 $52,732.37 $417.55 $0.00 $298.16 $53,448.08
249 $53,448.08 $417.55 $0.00 $302.20 $54,167.83
250 $54,167.83 $417.55 $0.00 $306.27 $54,891.65
251 $54,891.65 $417.55 $0.00 $310.37 $55,619.57
252 $55,619.57 $417.55 $0.00 $314.48 $56,351.60
253 $56,351.60 $0.00 $56,669.27 $318.62 $0.95