Question $2$

You wish to fund your daughter's education via a Registered Education Savings Plan

$($RESP$).$ If she will need $$35,000$ at the beginning of each year for $4$ years starting $8$ years

from today, how much must you set aside each year, at the end of the year, until she

leaves to pursue her studies? You already have $$75,000$ in her RESP. Assume her

investments earn $3\mathrm{.}5\%,$ compounded quarterly. Round your final answer to the nearest

dollar.

a$)$ $$14,666$

b$)$ $$12,800$

c$)$ $$3,734$

d$)$ $$2,921$