Saving For College Project
James Belcoff
Two Mutual Funds
I have $5,050 that I am looking to invest in a mutual fund to help pay for my child's college. I am considering two different options for my investment, Fund A and Fund B. Fund A averages 3.2% growth annually. Fund B averages 3.95% growth annually, but there is $5o of fees with Fund B that I would have to pay up front.
Table
0 Years
A- 5050
B- 5000
1 Years
A- 5,211.6
B- 6,975
2 Years
A- 5,378.3712
B- 9,730.125
3 Years
A- 5,550.48
B- 13,573.52
4 Years
A- 5,728.10
B- 18,935.07
5 Years
A- 5,911.39
B- 26,414.42
Which Fund Im Going With
I am going with fund B Because of the amount of money. That a good thing because of the amount of money after 18 years is crazy
After 18 Years....
Fund A) 8,902.79
Fund B) 2,001,270.26
What i have learned
I have learned an important skill I will be needing to use for the future when this becomes reality.