Your clients Jamall in China Gwynn would like you to determine if they are on track to meet the education funding objective of their son Jarius. Jarius is currently 13 years of age Jamal in China have high hopes for Darius's future education. Use the following data to determine whether or not Jamal in China need to say more to find Jarius's education needs here is the following information:

Marginal tax rate in 29%

After tax rate of return before college, 7.90%

Before tax rate of return of 529, plan, 9.755%

Rate of return on educational assets after college, begins 5%

College expense, inflation, rate for

Your Jarius begins college 18

Number of years in college 4

Yearly cost of college today 60,000

After tax assets earmarked for Jarius is education 25,000

529 plan assets earmarked for Jarius is education 60,000

After tax educational annual saving zero

Annual tax advantage educational savings 18,000

Annual education 3%

A. Shortly, how much will Jamal in China need gross need on Jarius his first day of college

B. After accounting for the future value of assets and savings, how much additional if any do Jamal in China need on Jarius his first day of college.

C. Based on your answer to the question above how much moisture mall in China save annually in the 529 plan to meet the educational savings goal

D. If instead, Jamal in China decide to save outside by 529 plan or other tax advantage plans how much must they said each year?

Answer rating: 100% (QA)

To answer these questions we can calculate the education funding needs for Jarius Lets break it down step by step A How much will Jamal in China need ... View the full answer