1. You have about $7500 saved up in your RESP. Your family had been contributing to the RESP twice a year since you ente
-
answerhappygod
- Site Admin
- Posts: 899604
- Joined: Mon Aug 02, 2021 8:13 am
1. You have about $7500 saved up in your RESP. Your family had been contributing to the RESP twice a year since you ente
1. You have about $7500 saved up in your RESP. Your family had been contributing to the RESP twice a year since you entered high school. It gains 3.2% annual interest, compounded semi-annually. a. How much were their semi-annual payments? b. How much will you still owe the post-secondary institution once you have used up the available funds in your RESP?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!