Making it Personal – College Expense and Resource Projections
Attending college with limited resources can be a trying experience. One way to alleviate some of the financial stress is to plan ahead. Develop a worksheet following the general layout of the table below that shows the projected expenses and resource for four years of college. When complete, please label your work College_Expenses_Your_Name
|Room and Board||$9942|
|Tuition and Books||$9268|
|Annual Rate Increase||7.5%|
After creating the worksheet: Perform a Whatif Analysis by changing the percents of the resource assumptions; (b) Perform a what-if analysis to determine the effect on the resource by increasing the Annual Rate Increase to 9%; and (c) with the original assumptions, goal seek to determine what the Annual Rate Increase would be for the total expenses to be $100,000. Submit each What-If Analysis properly labeled as well as the completed Goal Seek.