College Savings

Child Information
Johnny’s current age 3

When Johnny will start college 18

Years Johnny will spend in college 4

Projected Cost Summary

Amount needed to pay tuition Rp189,327

Amount needed to pay cost of living Rp102,810

Cumulative Savings Per Year
Total amount needed for college Rp292,138
$375,000
Present Value of needed funds Rp102,242
$300,000
First year savings needed Rp8,919

$225,000

$150,000 Financing Information

Rate of return on savings 7.25%
$75,000
Inflation rate 1.50%
$0
Inflation rate of tuition 5.00%

Current Savings and Tuition

Current savings for Johnny Rp15,000

Tuition and mandatory fees Rp24,000

Cost of Living
Room and board Rp15,200

Books and supplies Rp1,250

Food and entertainment Rp2,400

Transportation Rp1,800

Miscellaneous Rp2,900

Total cost of living expenses Rp23,550

Amount Saved Per Year

1 2023 Rp8,919

2 2024 Rp9,053

3 2025 Rp9,188

4 2026 Rp9,326

5 2027 Rp9,466

6 2028 Rp9,608

7 2029 Rp9,752

8 2030 Rp9,899

9 2031 Rp10,047

10 2032 Rp10,198

11 2033 Rp10,351

12 2034 Rp10,506

13 2035 Rp10,664

14 2036 Rp10,824

15 2037 Rp10,986

16 2038 Rp0

17 2039 Rp0

18 2040 Rp0

19 2041 Rp0

20 2042 Rp0

1
Real contribution at year 0 Rp8,787

Period Year Cost of Tuition Cost of Living Total Cost Annual Savings Cumulative Savings Cash Flow

1 2023 Rp25,200 Rp23,903 Rp49,103 Rp8,919 Rp25,006 Rp8,919

2 2024 Rp26,460 Rp24,262 Rp50,722 Rp9,053 Rp35,872 Rp9,053

3 2025 Rp27,783 Rp24,626 Rp52,409 Rp9,188 Rp47,661 Rp9,188

4 2026 Rp29,172 Rp24,995 Rp54,167 Rp9,326 Rp60,443 Rp9,326

5 2027 Rp30,631 Rp25,370 Rp56,001 Rp9,466 Rp74,291 Rp9,466

6 2028 Rp32,162 Rp25,751 Rp57,913 Rp9,608 Rp89,285 Rp9,608

7 2029 Rp33,770 Rp26,137 Rp59,907 Rp9,752 Rp105,511 Rp9,752

8 2030 Rp35,459 Rp26,529 Rp61,988 Rp9,899 Rp123,059 Rp9,899

9 2031 Rp37,232 Rp26,927 Rp64,159 Rp10,047 Rp142,028 Rp10,047

10 2032 Rp39,093 Rp27,331 Rp66,424 Rp10,198 Rp162,523 Rp10,198

11 2033 Rp41,048 Rp27,741 Rp68,789 Rp10,351 Rp184,656 Rp10,351

12 2034 Rp43,101 Rp28,157 Rp71,257 Rp10,506 Rp208,550 Rp10,506

13 2035 Rp45,256 Rp28,579 Rp73,835 Rp10,664 Rp234,333 Rp10,664

14 2036 Rp47,518 Rp29,008 Rp76,526 Rp10,824 Rp262,146 Rp10,824

15 2037 Rp49,894 Rp29,443 Rp79,337 Rp10,986 Rp292,138 -Rp79,337

16 2038 Rp52,389 Rp29,885 Rp82,274 Rp0 Rp231,044 -Rp82,274

17 2039 Rp55,008 Rp30,333 Rp85,341 Rp0 Rp162,453 -Rp85,341

18 2040 Rp57,759 Rp30,788 Rp88,547 Rp0 Rp85,684 -Rp88,547

19 2041 Rp60,647 Rp31,250 Rp91,896 Rp0 Rp0 Rp0

20 2042 Rp63,679 Rp31,718 Rp95,398 Rp0 Rp0 Rp0

21 2043 Rp66,863 Rp32,194 Rp99,057 Rp0 Rp0 Rp0

22 2044 Rp70,206 Rp32,677 Rp102,883 Rp0 Rp0 Rp0

23 2045 Rp73,717 Rp33,167 Rp106,884 Rp0 Rp0 Rp0

24 2046 Rp77,402 Rp33,665 Rp111,067 Rp0 Rp0 Rp0

25 2047 Rp81,273 Rp34,170 Rp115,442 Rp0 Rp0 Rp0