Can a math person help me, please?

[CTyankee]

I am seriously math challenged!I am trying to figure out how much the college saving account for my grandson will be (with compounded interest) over the 11 years before he would be due to start college. I don't know the interest rate

I will donate $25 per month, starting in February. He is 7 and his birthday is in September. He lives in New York and they have a 529 program for this. I live in CT.

This is seems like a convenient and affordable program for me to do.

Any information would be greatly appreciated.

[Thomas Hurt]

1. You can work with an online calculator like this one, give you an idea.

http://www.collegescholarships.org/calculators/compound-savings.php

[Generic Brad]

2. You kind of need to know the interest rate

Nothing compounds without the interest. But your money will grow and you have the right idea. Even without interest you will have $3,300 for him after 11 years though. The interest will help that grow, but the interest rate will determine how much. Just roughly guessing without knowing the rate, you may be able to give him a nice gift in the $4,000 range

[Mosby]

3. Link

https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1000000&cstartingprinciplev=1000&cyearsv=11&cinterestratev=6&ccontributeamountv=25&ciadditionat1=monthly&printit=0

[CTyankee]

4. thank you! I will try to figure it out, altho my son probably do it instantly...