Age of Child: 4

Amount Contributed Each Month: $100

Interest Rate that the RESP will be earning (provide details and show any work): 0.010% Annually

Monthly Annual Tuition Today of Degree Program at Canadian University (provide details and show any work): $10,711 (Annual Tuition) / 12 = $892.58 monthly tuition

Annual Percent Increase in Canadian Tuition costs (provide details and show any work): 5.33%

1.Calculate the total amount in the RESP when the child turns 18

2.Project the annual tuition cost for a 4-year degree program at a Canadian University when the child turns 18

3.Lets assume the child immediately enrolls in a 4-year degree program upon turning 18. Each annual tuition amount is paid in full in advance of the school year. Develop a 4-year plan showing how the RESP could be used to fund the childs post-secondary education. Show all work and explain any assumptions or requirements

4.In your 4-year plan above, either you had too much money or not enough money to fund the childs education. Either way, using the information only in this scenario, show how you could modify any variables that you control in this scenario in such a way that the RESP is reduced to zero (or as close as possible) upon the childs graduation from university. Show all your work and explain any assumptions or requirements