Elena is saddened by the recent death of her mother, Jackie. Following the settlement of the estate, Elena received $250,000 as the sole beneficiary. In the will, Jackie stated that it was her wish that the remaining assets of the estate were for the use of Elena (at her sole discretion) and for the benefit of her children. Jackie did not want Elena's husband, Jack, to gain any entitlement to these funds. Jackie knew that Elena and Jack were having marital problems and did not want him to get entitlement to these assets in the event of divorce. Elena asks her CFP Professional for advice regarding what she should do with these funds as she wants to respect her mother's wishes.. Which of the following suggestions will meet Jackie's final wish?

(i) Invest the $250,000 in an investment account in Elena's name only

(ii) Purchase a family cottage with the funds intended for use of Elena and her children.

(iii) Pay down the mortgage on the current matrimonial home.

(iv) Renovate the kitchen and landscape the property of their current home

Required: (9 marks)

Select the best answer and briefly indicate (point form) why it is the best response.

Briefly explain why the other three responses are not as good as the one you selected

(2.81 - Calculus of Variations) Given y = sin(x) and by = -0.5 + 0.2x2 a. Compare d d d dx (y toy) - dx (y) with dx (by) a. Compare - 3 3 3 (y + dy)dx - ()dx with (Sy)dx 0 0 07. (14 marks). Dr. Poincaire teaches both calculus and introductory differential equations, often to the same (a) (I!) (C) (d) (at students. Passing the calculus course was a prerequisite to taking the differential equations course. Dr. Puincaire was curious as to whether the calculus grade could be used to predict the differential equations grade in some way. He randomly selected 12 former students who had taken both courses from him and created the following table (grades for both course are out of 100). Student I 2 3 4 5 6 7 8 9 ID 1 l 12 Grade in calculus 1' 81 63 T5 33 70 55 67 T4 74 96 89 70 Grade in differential equations 3: 91 75 92 39 75 65 32 TD 72 95 90 61 The following summary shows the sums required to perform linear regression analysis. 293,. = 397 2 y,- = 957 23:: = 68447 Z 3;? = 77795 Zrtyi = 72510 (5 marks). Show explicitly the calculations to nd E, E, S\Question 12(Multiple Choice Worth 5 points) (07.02) The slope field for a differential equation is shown in the figure. Determine the general solution of this equation. Oy = Cx2 Ox = Cy Oxz - yz = 02 Ox + y? = 0?3. Special Cases of the CES production function (optional): The Constant Elasticity of Substitution (CES) production function is q = f (K, L) = A (ak + (1 -0) 1-7)-7 where all the parameters are positive constants. (a) Show that as y - 0+, the CES production function q = f(K, L) converges to the Cobb-Douglas production function q = f(K, L) = AKOLI-a. (b) Show that as y - co, the CES production function converges to the Leontief produc- tion function q = f(K, L) = A . min { K, L}.The work for this problem should be uploaded at the end of the exam. You need to show me the calculus process used to answer the question below. 4x3 + 2x-7 Find lim,- -co 3x3-31245x Round answer to 2 decimal places