Child Age | 5 | Annual Salary | 95000 | |||
Child Age Future | 18 | |||||
Year | American University Cost | British University Cost | ||||
1 | 20000 | 2500 | ||||
2 | 20000 | 2500 | ||||
3 | 20000 | 2500 | ||||
4 | 20000 | 2500 | ||||
Growth | 5% | |||||
Other Exp | 2500 | |||||
Growth | 3% | |||||
N | 13 | |||||
At 18th Year | ||||||
Tution Fee | $37,712.98 | $4,714.12 | ||||
Other Exp | $3,671.33 | $3,671.33 | ||||
Total Amt Required | ||||||
Investment rate | 12% | |||||
Year | Tution | Other Exp | Total Expenses | Total Expenses | |||
18 | 37712.98285 | 3671.334284 | 41384.31713 | 4714.123 | 3671.334284 | 8385.457139 | |
19 | 39598.63199 | 3781.474312 | 43380.1063 | 4949.829 | 3781.474312 | 8731.303311 | |
20 | 41578.56359 | 3894.918542 | 45473.48213 | 5197.32 | 3894.918542 | 9092.23899 | |
21 | 43657.49177 | 4011.766098 | 47669.25787 | 5457.186 | 4011.766098 | 9468.952569 | |
Now, the corpus required in 18th year would be, | Now, the corpus required in 18th year would be, | ||||||
150297.77 | 30169.35 | ||||||
N | 13 | N | 13 | ||||
I | 12% | I | 12% | ||||
FV | 150297.77 | FV | 30169.35 | ||||
PV | 0 | PV | 0 | ||||
PMT | $5,362.20 | PMT | $1,076.36 |
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