A client of yours has recently become a parent. The family wants to open up an RESP account for their child to save for her university expenses.

They plan to send their daughter to study Bachelor of Commerce for 4 years and tuition is $7,209 a year

How much should they save before her school starts

-Plan on saving for 18 years

For that, how much should the parents save in the account each month to fund their childs university expenses (want to save in a GIC account with an interest rate of 2.20% a year)