Question 1 You are in the Early Retirement stage of the life cycle. Which component of a financial plan is most likely the least important to you? a) Financing your purchases b) Protecting your assets and income c) Investing your money d) Planning your retirement and estate Question 2 Sylvia is planning an investment. Her annual combined Federalend provincial marginal tax rate is 32%. If she invests $1,000 every year for 3 years starding today, how much after-tax income will she earn on her investment if interest is paid at a rate of 2.4%, compounded semi-annually? Her investment generates interest, which is fully taxable in the year it is earned. a) $48.96 b) $49.43 c) $99.40 d) $110.10 1 Question 3 Your daughter is 5 years old and will need $30,000 at the beginning of each year for 4 years starting on her 19th birthday to attend university. You have saved $10,000 in her RESP to date. How much must you put aside every month, at the end of the month, to fund her education, if you foresee earning a return of 3%, compounded quarterly? a) $476.89 b) $478.08 c) $549.64 d) $551.01