Build Excel Calculator for Children's Costs
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I require a spreadsheet calculator that will be used in-house to calculate the lump sum dollars someone needs to invest today in order to be able to meet the cost of raising their children.
I have provided you with a table of costs from 2012 showing the costs at each age of the child up to age 24 depending on income bracket of the family.
The result that we are looking for is that by identifying the children and their current age the result will show the lump sum amount that the parents would need to invest today in order to be able to meet the ongoing costs of their children until age 24.
We will need the ability to enter the following information for each calculation:
Name of the child
Age of the child today
Which income sector they are in
The result will take into account the assumption that for the amount invested today it will earn [url removed, login to view]% per annum over the whole period less the cost of the child for each year which will be inflated at [url removed, login to view]% CPI per annum.
Please note for the budget I would like you to tell me how much it costs. So I have just entered an amount and wait to see what you can provide me with
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