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You wish to fund your daughter s education via a Registered Education Savings Plan ( RESP ) . If she will need $ 3 5

You wish to fund your daughters 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 3.5%, compounded quarterly. Round your final answer to the nearest dollar.

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