Jack and Jill are proud new parents. They met while students at Ivy University and already have visions of their new child attending their alma mater in 18 years. Total tuition, room, and board is about $70,000 today, where it was only $27,000 when they graduated 15 years ago. They can expect to receive a long-term average annual return of 8% in their investment portfolio. Approximately how much would they have to save monthly starting now to have the tuition, room, and board (4-year degree) for their new child by freshman year?

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The Answer of Jack and Jill are proud new parents. They met while students at Ivy University and already have visions of their new child attending their alma mater in 18 years. Total tuition, room, and board is about $70,000 today, where it was only $27,000 when they graduated 15 years ago. They can expect to receive a long-term average annual return of 8% in their investment portfolio. Approximately how much would they have to save monthly starting now to have the tuition, room, and board (4-year degree) for their new child by freshman year?

Jack and Jill Are Proud New Parents