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The Wilsons are establishing a Registered Educational Savings Plan ( RESP ) for their newborn daughter. They would like to accumulate $ 1 0 0

The Wilsons are establishing a Registered Educational Savings Plan (RESP) for their newborn
daughter. They would like to accumulate $100,000 in 18 years by making bi-weekly (every 2
weeks) deductions from their bank account. The bank estimates that they should be able to earn
6.5% annual interest on this plan.
(a) How much must they deduct every 2 weeks to achieve this goal?
(b) In total, how much interest has been earned in the plan over the 18 years?

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