3. How much do you have to save each month to make sure your childs college education is covered? Assume you willstart to save for your child college fund at the time ofhis/her birth (annuity due), and he/she will attend college on his/her 18th birthday. I need the answer to this question for college expense.

17% ...oo AT&T 4:24 PM Case financial planning(2).doc Done It is now December 2016. This is a very special year for you. You are not only going to graduate soon, but also find a job that you like. You will start to work for ABC Inc. officially in the beginning of January 2017 At age of 23, you just want to have fun. But your parents have been constantly bugging you to plan ahead so you manage your money wisely. Your boyfriend girlfriend also mentioned that he/she wants to have a family with you. So you finally decide to make a plan on few of the major life decisions marriage, house, children, and retirement. Your Plan Given informationl You plan to marry your college sweetheart3 years from now. Average wedding expense is about S25,000-S30,000 your parents will not share the expense with you. 2. You plan to buy a house 2 years after your marriage in Camarillo. A single family home for a 2br/2bth costs about S500,000-550,000 (in today's term). You plan to put 20% down payment, plus 2% estimated closing cost. 3. You also plan to have one child 2 years after the mamiage. You expect to provide for your child's college education. The tuition is set at UC level (in today's term) You plan to retire at age 65. You want to live comfortably after retirement. Assumed Information u disagree with some assumptions please rovidewour own assumptions with explanations l. Your starting salary (please set at an average level based on your major) 2. Your salary will increase at 1-2% per year (a rate that is close to or slightly higher than inflation), and stays flat when you reach 45. 3. The rate of return for all your investments (retirement, wedding, house down payment, and college savings) is 5%