1)Isla and Glen have negotiated a 5-year conventional mortgage at a rate of 6.1%. The current Bank of Canada 5-year rate is 5.25%. Which rate will be used to determine their Gross Debt Service ratio under the stress test?

1. 2.0%
2. 5.25%
3. 6.1%
4. 8.1%

2)Jackson plans to make 10 annual deposits of $1,000 starting 5 years from today. At a rate of 4%, compounded semi-annually, how much will he have 20 years from today? Round your final answer to the nearest dollar.

1. $12,514
2. $15,255
3. $15,871
4. $16,021

3) You wish to fund your daughter's education via a Registered Education Savings Plan (RESP).If she will need $35,000 at the beginning of each year for 4 years starting 8 years from today, how much must you set aside each year, at the end of the year, until she leaves to pursue her studies? You already have $75,000 in her RESP. Assume her investments earn 3.5%, compounded quarterly. Round your final answer to the nearest dollar.

1. $14,666
2. $12,800
3. $3,734
4. $2,921

4) During 2023, Aiden earned $60,000 gross employment income from his position as a co-ordinator at GGF Mutual Funds. He and his employer each contributed $1,500 to his Registered Pension Plan (RPP), while Aiden also contributed $1,000 to a Registered Retirement Savings Plan (RRSP), $2,000 to a Tax-Free Savings Account (TFSA), and $500 to a First Home Savings Account (FHSA). Aiden also paid $700 in medical expenses. Aiden had no other tax deductions other than those arising from the foregoing. What was Aiden's average Federal tax rate in 2023? Refer to 2023 Federal income brackets and rates below.

Income Bracket	Marginal Tax Rate
0 - $53,359	0.15
$53,360 - $106,717	0.205

1. 15.00%
2. 15.01%
3. 15.35%
4. 15.41%