Question 3: (8 marks) Your parents want to save for your little sister's college education and ask for your advice. Today, she just turned 8 years old and she will begin college exactly on her 18th birthday. At the same time that she starts college, they need to make the first annual payment to pay the tuition (there are four annual payments for the four years of college). Your parents will invest in a Registered Education Savings Plan (RESP) account. Your parents are going to invest $4000 starting now for a total of 10 deposits. One advantage of the RESP is that the Government of Canada is going to deposit $500 at the end of each year in the account (for a total of 10 deposits). Assuming that the annual interest rate is 6% (assume that the rate is fixed for all the years including the four years of college), what is the maximum annual tuition that your parents can afford