Jonathan's annual income is $90000 His son, Benny was born in 2013 and has never been a beneficiary of a RESP If Jonathan opens an RESP today, and contributed $15000, how much CESG will Benny receive 2 Calculate the investment required, at the start of each year, to generate $100,000 in 10 years assuming an annual nominal return of 6 5 compounded annually 5 Sam is planning to buy a house His gross income is $72000 and his net income is $60000 He has saved $40500 to be used for the down payment The monthly payments based on the GDSR maximum approval ratio of 32 by his bank is $1520 The mortgage approval interest rate on a 5 year term is 1 89 What is the maximum purchase price Sam could afford on his new house assuming a 25 year amortization 6 Rex is planning to buy a house His gross income is $72000 and his net income is $60000 The monthly expenses are $250 for property taxes and $150 for heat The GDSR maximum approval ratio is 32 by his bank Calculate his mortgage payments on the new house 8 What is monthly payment for a $25,000 amortized loan to purchase a car payable over 5 years at an annual interest rate of 6 compounding monthly Mike put the maximum allowed every year in his TFSA for 15 years The account now has a balance of $107,900 Now he wants to start a new business and takes out $50,000 How much tax does he owe on the $50,000 if his marginal tax rate is 33 12 Timothy has a gross annual income of $66000 His monthly expenses include Income taxes $1500, Food $200, Entertainment $150, Student loan $200, Car loan $450, Mortgage $1200, Property taxes $200, Heat $100 What is his TDSR 14 For 15 years, Buddy Ginger, saved for their only son Clive's education in a RESP If Clive does not attend post secondary education, the best option for Buddy and Ginger is to 15 Sandy plans to create an education fund for her daughter by investing $3500 on January of each year for the next 10 years Using an annual nominal interest assumption of 7 , how much will the fund be worth at the end of 10 years

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Jonathan's annual income is $90000 . His son, Benny was born in 2013 and has never been a beneficiary of a RESP. If Jonathan opens

Jonathan's annual income is $90000 . His son, Benny was born in 2013 and has never been a beneficiary of a RESP. If Jonathan opens an RESP today, and contributed $15000, how much CESG will Benny receive?

Calculate the investment required, at the start of each year, to generate $100,000 in 10 years assuming an annual nominal return of 6.5% compounded annually.

Sam is planning to buy a house. His gross income is $72000 and his net income is $60000. He has saved $40500 to be used for the down payment. The monthly payments based on the GDSR maximum approval ratio of 32% by his bank is $1520. The mortgage approval interest rate on a 5-year term is 1.89%. What is the maximum purchase price Sam could afford on his new house assuming a 25 year amortization?

Rex is planning to buy a house. His gross income is $72000 and his net income is $60000. The monthly expenses are $250 for property taxes and $150 for heat. The GDSR maximum approval ratio is 32% by his bank. Calculate his mortgage payments on the new house

What is monthly payment for a $25,000 amortized loan to purchase a car payable over 5 years at an annual interest rate of 6% compounding monthly?

Mike put the maximum allowed every year in his TFSA for 15 years. The account now has a balance of $107,900. Now he wants to start a new business and takes out $50,000. How much tax does he owe on the $50,000 if his marginal tax rate is 33%?

12.

Timothy has a gross annual income of $66000. His monthly expenses include Income taxes $1500, Food $200, Entertainment $150, Student loan $200, Car loan $450, Mortgage $1200, Property taxes $200, Heat $100. What is his TDSR?

14.For 15 years, Buddy & Ginger, saved for their only son Clive's education in a RESP. If Clive does not attend post secondary education, the best option for Buddy and Ginger is to:

15.Sandy plans to create an education fund for her daughter by investing $3500 on January of each year for the next 10 years. Using an annual nominal interest assumption of 7%, how much will the fund be worth at the end of 10 years?

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1 To calculate the Canada Education Savings Grant CESG that Benny will receive we need to consider the CESG rate and the contribution limit The CESG rate is 20 of the annual contributions made to the ... blur-text-image