The recorded session, provides a good overview on working this problem. Use the "A Number of Useful Financial Spreadsheets" to find a sample template you can use to work this problem. I went over this in the recorded session. The problem you will answer has the following fact pattern:
A couple has just given birth to a baby and named him Jimmy. They want to set up a college savings account for Jimmy and start saving for his college education. The following facts will help you work this problem:
Current Cost of Tuition, Room & Board $25,000
Expected Average Inflation for College Costs 5%
Expected Average Percentage Return on Savings 4%
Years until you need the first tuition payment 18
You will make 18 yearly payments with the first payment starting a year from now.
How much will the couple need at the end of 18 years to fund Jimmy's college education for 4 years? Round your answer to a whole number (Example 150450.61 rounded to 150451 with no commas or dollar signs)