College Funding Analysis (10 points)
Is it practical to suggest to a Luke and Jen that your computer model will precisely compute the savings needed to fund their estimated education goal?Provide an opinion to support your answer.How does this affect the recommendation you will make to them about their annual savings need?
College Funding Analysis (20 points)
Assume that Luke and Jen save $9,000 per year for Diane’s college costs.They contribute $4,500 to a taxable brokerage account and $4,500 per year to a 529 college savings plan.Assume they spend 100% of the funds over Diane’s 4 years in college, distributing an equal amount from each account per year.Which of the vehicles provided the greatest contribution toward her expenses, after taxes? Show your analysis.
Bring It All Together (30 points)
Using your final spreadsheet for Luke and Jen and the format discussed in class, prepare a financial plan document to provide recommendations for repayment of their credit cards and establish a college funding plan for Diane.Use the template provided in Canvas, Module 6, to organize your document.
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