Zoho Sheet

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College Savings Calculator								This spreadsheet is for illustrative purposes only.
HELP							© 2009 Vertex42 LLC	Results are just estimates. Interests rates may vary.
		Name	Child's Name
						Totals as of Year …	15	Instructions:
			Current Age of Child	7		Total Costs	$33,500.00	- For this school and college savings calculator, consider
			Initial Savings	0.00		Total Interest Earned	$9,233.98	year t as starting at the beginning of the school year (in
			Annual Interest Rate	4.25%		Total Invested	$24,266.02	August for example). The child's age should correspond with
								the start of the school year.
				Scheduled Deposits			Solving For Zero Balance	- Enter the Total Costs for the specified School Year in the
			Years to Make Deposits	8		Year of Last Payment	15	Yearly Schedule. These are assumed to be withdrawals taken
			Deposit Amount	252.77		Last Payment	$7,500.00	at the beginning of the year.
			Deposit Frequency	Monthly		Prior Year Balance	$7,500.00	- Enter any extra annual deposits you may be planning either
			Additional Annual Deposits	0.00		NET	$0.00	as regular scheduled annual deposits or manually in the Yearly
								Schedule. Annual deposits are applied at the end of the year.
								- Enter the number of Years to Make Deposits, the Deposit
								Amount and the Deposit Frequency.
			Frequency	Periods				- Taxes on interest earned are not taken into account,
			Annually	1				so use an after-tax annual interest rate.
			Semi-Annually	2				- You can make a copy of this worksheet for creating savings
			Quarterly	4				plan for other children or saving an example of a particular
			Bi-Monthly	6				plan. Look up how to Copy a Worksheet in the Help system.
			Monthly	12				- The calculator is initially set up to calculate the Deposit
			Semi-Monthly	24				Amount automatically. However, if you know the deposit amount
			Bi-Weekly	26				but want to solve for some other input value, then enter your
			Weekly	52				deposit amount and then use Goal Seek or Solver to set the
			Daily	365				NET value to Zero by changing one of the other inputs.

Yearly Schedule
Year	Age	School Year	Costs This Year	Interest Earned	Scheduled Deposits	Extra Annual Deposits	End of Year Balance
0					$-		$-
1	7	2		59.79	3,033.25		3,093.04	Calculating the Deposit Amount
2	8	3	150.00	187.33	3,033.25		6,163.63	- The deposit amount is calculated by first converting all
3	9	4	150.00	320.41	3,033.25		9,367.29	cash flows to the present value, the converting the net
4	10	5	150.00	459.24	3,033.25		12,709.78	present value to an annuity.
5	11	6	150.00	604.10	3,033.25		16,197.14
6	12	7	400.00	744.40	3,033.25		19,574.79		Effective Annual Rate	4.334%
7	13	8	500.00	886.45	3,033.25		22,994.49		Effective Monthly Rate	0.3542%
8	14	9	1,000.00	1,012.98	3,033.25		26,040.72
9	15	10	1,000.00	1,085.21	0.00		26,125.93		PV(costs)	20,540.62
10	16	11	1,000.00	1,088.90	0.00		26,214.83		- PV(initial)	0.00
11	17	12	2,000.00	1,049.42	0.00		25,264.25		- PV(extra)	0.00
12	18	C-1	6,000.00	834.87	0.00		20,099.11		- PV(annual)	0.00
13	19	C-2	6,500.00	589.35	0.00		14,188.47		PV(deposit)	20,540.62
14	20	C-3	7,000.00	311.53	0.00		7,500.00		Deposit Amount	$252.77
15	21	C-4	7,500.00	0.00	0.00		0.00
16	22	C-5		0.00	0.00		0.00
17	23	C-6		0.00	0.00		0.00
18	24	C-7		0.00	0.00		0.00
19	25	C-8		0.00	0.00		0.00
20	26	-		0.00	0.00		0.00
21	27	-		0.00	0.00		0.00
22	28	-		0.00	0.00		0.00
23	29	-		0.00	0.00		0.00
24	30	-		0.00	0.00		0.00
25	31	-		0.00	0.00		0.00

Savings