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4. Mr. and Mrs. Jones are contributing to a RESP (registered education savings plan) they have set up for their children. What amount will they

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4. Mr. and Mrs. Jones are contributing to a RESP (registered education savings plan) they have set up for their children. What amount will they have in the RESP after ten years of contributing $2,550 at the end of every six months if the plan earns an annual rate of 5% compounded quarterly? (4 marks)

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