College Savings Calculator

Name Child's Name

Totals as of Year … 15
Current Age of Child 7 Total Costs $ 33,500.00
Initial Savings 0.00 Total Interest Earned #NAME?
Annual Interest Rate 4.25% Total Invested #NAME?

Scheduled Deposits Solving For Zero Balance

Years to Make Deposits 8 Year of Last Payment 15
Deposit Amount #NAME? Last Payment $ 7,500.00
Deposit Frequency Monthly Prior Year Balance #NAME?
Additional Annual Deposits 0.00 NET #NAME?

End-of-Year Balance
Frequency Periods
Annually 1
Semi-Annually 2
Quarterly 4
Bi-Monthly 6
Monthly 12
Semi-Monthly 24
Bi-Weekly 26
Weekly 52
Daily 365

Yearly Schedule
School Costs This Interest Scheduled Extra Annual End of Year
Year Age Year Year Earned Deposits Deposits Balance
1 7 2 #NAME? #NAME? #NAME?
2 8 3 150.00 #NAME? #NAME? #NAME?
3 9 4 150.00 #NAME? #NAME? #NAME?
4 10 5 150.00 #NAME? #NAME? #NAME?
5 11 6 150.00 #NAME? #NAME? #NAME?
6 12 7 400.00 #NAME? #NAME? #NAME?
7 13 8 500.00 #NAME? #NAME? #NAME?
8 14 9 1,000.00 #NAME? #NAME? #NAME?
9 15 10 1,000.00 #NAME? 0.00 #NAME?
10 16 11 1,000.00 #NAME? 0.00 #NAME?
11 17 12 2,000.00 #NAME? 0.00 #NAME?
12 18 C-1 6,000.00 #NAME? 0.00 #NAME?
13 19 C-2 6,500.00 #NAME? 0.00 #NAME?
14 20 C-3 7,000.00 #NAME? 0.00 #NAME?
15 21 C-4 7,500.00 #NAME? 0.00 #NAME?
16 22 C-5 #NAME? 0.00 #NAME?
17 23 C-6 #NAME? 0.00 #NAME?
18 24 C-7 #NAME? 0.00 #NAME?
19 25 C-8 #NAME? 0.00 #NAME?
20 26 - #NAME? 0.00 #NAME?
21 27 - #NAME? 0.00 #NAME?
22 28 - #NAME? 0.00 #NAME?
23 29 - #NAME? 0.00 #NAME?
24 30 - #NAME? 0.00 #NAME?
25 31 - #NAME? 0.00 #NAME?
Calculating the Deposit Amount
The deposit amount is calculated by first converting all
cash flows to the present value, then converting the net
present value to an annuity.

Effective Annual Rate #NAME?

Effective Monthly Rate #NAME?

PV(costs) #NAME?
- PV(initial) 0.00
- PV(extra) #NAME?
- PV(annual) #NAME?
PV(deposit) #NAME?
Deposit Amount #NAME?

Note: This spreadsheet is for illustrative purposes only.

Results are just estimates. Interests rates may vary.
HELP

Instructions For Using This Template

For this school and college savings calculator, consider year t as starting at the
beginning of the school year (in August for example). The child's age should
correspond withCosts
Enter the Total the start of the
for the school School
specified year. Year in the Yearly Schedule (yellow
colored cells). These are assumed to be withdrawals taken at the beginning of the year.
Enter any extra annual deposits you may be planning either as regular scheduled
annual deposits or manually in the Yearly Schedule. Annual deposits are applied at the
end ofthe
Enter thenumber
year. of Years to Make Deposits, the Deposit Amount and the Deposit
Frequency.
Taxes on interest earned are not taken into account, so use an after-tax annual interest
rate.
You can make a copy of this worksheet for creating savings plan for other children or
saving an example of a particular plan. Look up how to Copy a Worksheet in the Help
system.
The calculator is initially set up to calculate the Deposit Amount automatically.
However, if you know the deposit amount but want to solve for some other input value,
then enter your deposit amount and then use Goal Seek or Solver to set the NET value
to Zero by changing one of the other inputs.