Geneva's parents saved for her education by depositing $1 000 at the end of each year in a Registered Education Savings Plan that earns 5% per year compounded annually. a. What is the amount of the RESP after 18 years? b. How much interest is earned? 3. You have just won the lottery. You have a choice of receiving $2 000 every two weeks for 20 years. Assume money can be invested at an annual interest rate of 6% compounded bi-weekly (every two weeks). The other choice is to take $700 000 today. Which would you take? How much do you save? Show your calculations.