2. [15] Emma has finished paying her parents and decides that she will divert most of those payments towards her daughter's RESP and her own RRSP. She will divert $600 monthly to her RRSP. Her daughter has just turned 4 years old and will enter university when she is 18 years old. Emma expects her daughter to contribute to her own education but plans to have $42,000 available when her daughter starts university. (RESPs have government grants; RRSP have tax deferrals and refunds and both have withdrawal rules. These will be ignored here. Only the tax-free growth will be assumed.) Emma has assembled a portfolio for her RRSP that will return 5.2% compounded monthly. The education portfolio will return 3.8% compounded monthly. c. [5] Emma would like to retire 25 years after her daughter begins university. She would like to have $1.1M in her fund at retirement. If she increases her deposits by 50% once her daughter begins university, will Emma achieve her goal? If there is a shortfall, determine how much; if there is a surplus, determine how much