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Marcus was born on January 1,2017. Starting on January 1, 2020, when Marcus was 3, his parents opened an individual RESP account for him.
Marcus was born on January 1,2017. Starting on January 1, 2020, when Marcus was 3, his parents opened an individual RESP account for him. Marcus will start his BBA in September, 2035. The RESP will earn a 6% annual return, compounded annually. Describe a contribution strategy that will allow Marcus' parents to catch-up and maximize the CESG grant as soon as possible. Hint: The CESG grant can be doubled up for years that are missed. (3 marks)
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
11th edition
9781259278617, 77861647, 1259278611, 978-0077861643
