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Question 10 Your daughter just returned 4 years. You anticipate she will start University, when she turns, 18. You would like to have funds in

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Question 10 Your daughter just returned 4 years. You anticipate she will start University, when she turns, 18. You would like to have funds in a registered education. saving plan (RESP) to fund her education at that time You anticipate she will spend 6 years in university, and it will cost $20,000 per year she will need the $20,000 at the start of each school year when she graduate (lebt free) you would also like her to have $40,000 for a down payment on travel. If the account promises to pay a fixed interest rate (APR) 6% per year with monthy compounding how much money do you have to deposite each quarter to ensure you will have enough when she starts university ? Assume you will make the same deposite at the end of each quarter until she starts university condo or to

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