Education fund withdrawal calculation

  • Status: Closed
  • Hadiah: $25
  • Penyertaan Diterima: 13
  • Pemenang: ikramk565

Ringkasan Peraduan

Canada - I have a Registered Education Savings Plan for 2 children - 18 and 15 years old.
$89,000. balance.
We need to calculate how much to withdraw every 6 months so that each child receives the same overall total.
The 18 year old has just started 1st of 4 year program. Started September 2022.
The 15 year old will start his program in September of 2025.
we will continue to deposit $665 per month for the next 39 months
Assuming an investment return of 4% in the plan, please chart deposits, withdrawals and dividend interest (4%) earned in the plan.
From now to end of last school program of 2nd child which is June 2029.
Part 2 - would also like to see a calculation if we changed the $665 per month for 39 months into a lump sum deposit now instead of over 39 months.
Please show examples of similar jobs you have finished, perhaps retirement forecasts ect. Thank you

Kemahiran Disyorkan

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Papan Penjelasan Umum

  • Jamesbenda
    Penganjur Peraduan
    • 1 tahun yang lalu

    Attention: clarification .
    Child #1 can start withdrawals anytime now and his last withdrawal should be in January 2026
    Child #2 will not start any withdrawals until his schooling starts which is September 2025 and ending June 2029

    • 1 tahun yang lalu
    1. ikramk565
      ikramk565
      • 1 tahun yang lalu

      Thank you so much. I am still here, and my aim is to make my clients happy. In case you need any enhancement. Please feel free to message me.

      • 1 tahun yang lalu
    2. mathexpert2021
      mathexpert2021
      • 1 tahun yang lalu

      What's your opinion on my work?

      • 1 tahun yang lalu
  • mathexpert2021
    mathexpert2021
    • 1 tahun yang lalu

    I have submitted my entry.

    • 1 tahun yang lalu
  • ikramk565
    ikramk565
    • 1 tahun yang lalu

    Please check my entry 19. Each withdraw amount is $8,114.5 and both child will get a total amount $64,916.

    • 1 tahun yang lalu
  • EngAhmedBadr2016
    EngAhmedBadr2016
    • 1 tahun yang lalu

    By your selection between deposit 665$/month or 25935$ only now, you'll get all calculations easily

    • 1 tahun yang lalu
  • ikramk565
    ikramk565
    • 1 tahun yang lalu

    Please check my second entry #9 .

    • 1 tahun yang lalu
    1. Jamesbenda
      Penganjur Peraduan
      • 1 tahun yang lalu

      Your presentation is looking excellent so far, very nice

      • 1 tahun yang lalu
  • PDPARMAR
    PDPARMAR
    • 1 tahun yang lalu

    #11 resubmitted with correction, please check.

    • 1 tahun yang lalu
  • PDPARMAR
    PDPARMAR
    • 1 tahun yang lalu

    #10 soory, in my entry, last screenshot is wrong. As 8000*8=64000 & 64000+813=64813 for each child.

    • 1 tahun yang lalu
  • rabinusd
    rabinusd
    • 1 tahun yang lalu

    Hi, would you please explain 4% interest rate is simple or compound? Thanks .

    • 1 tahun yang lalu
  • ikramk565
    ikramk565
    • 1 tahun yang lalu

    Hi, Please check #4 . I am ready with the excel file. If you like it, then message me. The calculations are kept very simple and show monthly result to follow. This table is will allow you to deposit lump sum any month and keep calculating the fund for equal distribution.

    • 1 tahun yang lalu
  • ahgh2018
    ahgh2018
    • 1 tahun yang lalu

    Want to calculate the return on depositing $665 per month for the next 39 months.
    Assuming an investment return of 4% annually.

    • 1 tahun yang lalu
  • aakashmore4
    aakashmore4
    • 1 tahun yang lalu

    Sir please give me your project i am complete your project time to time and deliver to you and i experience in this field.

    • 1 tahun yang lalu

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