Answer second part!

Let's assume the child immediately enrolls in a 4-year degree program upon furning 18 . Each tuition amount is paid in full in advance of the school year. Develop a 4-year plan showing how the RESP coufd be used to fund the child's post-secondary education. Show all work and explain any assumptions or requirements. (12 points) Note: Treat each year separately, In Year 1, begin with the total amount in the RESP (your contribution + government's contribution) as a cash outflow (enter as PV negative). Set your cafculator to BGN mode (2 SpPmP2 > ENTERP2-S)CPT) and enter the PMT as a cash inflow (enter as PMT positive) Use N=1 for all 4 years. Your FV from year 1 becomes your PV for year 2 and so on. In your 4-year plan above, either you had too much money or not enough money to fund the child's 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 rero (or as close as possible) upon the child's graduation from university. Show all your work and explain any assumptions or requirements. (7 points) Note: You can reduce the RESP to \%O" by setting FV=0 and PVa to your accumulated RESP fotal after 18 years