Education
​When it comes to saving for your child’s education, few can afford not to start saving now.​Child’s education planning is complex which involves making the right choice considering the characteristics of the child, the university, the geographical location and most importantly your financial readiness.
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WHEN YOU SAVE
My daughter is 8 and she will need $20,000 per annum for 4 years of private education after 10 years. How much do I need to set aside monthly, assuming an interest rate of 7% net of all charges? Answer. US $ 494 per month​
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WHEN YOU BORROW
My daughter is 8 and she will need $ 20,000 per annum for 4 years of private education after 10 years. How much do I need to pay every month for a 10 year term if I borrow the money at an interest rate of 6.8%? Answer. US $ 1,120 per month
The Facts
Case Study I
My new born baby will need $20,000 per annum for 4 years of private education after 18 years. How much do I need to set aside monthly, assuming an interest rate of 10% net of all charges? Answer: US $ 325 per month
Case Study II
My son is 4 years old and he will need $20,000 per annum for 4 years of private education after 14 years. How much do I need to set aside monthly, assuming an interest rate of 10% net of all charges? Answer: US $ 437 per month
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Case Study III
My daughter is 8 and she will need $20,000 per annum for 4 years of private education after 10 years. How much do I need to set aside monthly, assuming an interest rate of 10% net of all charges? Answer. US $ 615 per month
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Case Study IV
My son is 12 and he will need $20,000 per annum for 4 years of private education after 6 years. How much do I need to set aside monthly, assuming an interest rate of 10% net of all charges? Answer. US $ 1,084 per month
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