Polly Khan wants to save for her son’s college education for…
Polly Khan wants to save for her son’s college education for when he enters college in [yrs] years. She wants to pay for his tuition at her alma mater, Arizona State University, where tuition currently costs $12,172 per year. Polly assumes tuition inflation will be [inflation]%. The 529 plan she started on her son, which currently has $[currsav],000 in it, has been averaging a return of [invrate]%. She will use that account to save for his schooling. With this information, you determined that she needs to have saved $[savingsgoal],000 by time her son starts college. Calculate the amount that Polly needs to save monthly to meet her goal (remember to include her current savings in your calculation). Round your final answer to two decimals.
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