Luis deposits $394.00 every month into his son's RESP for the next seven years until his son
Fantastic news! We've Found the answer you've been seeking!
Question:
Luis deposits $394.00 every month into his son's RESP for the next seven years until his son goes to college. Luis's son will receive quarterly payments from the RESP for the four years he is in college. If the RESP earns interest at a rate of 4.00% compounded monthly, find the size of the quarterly payments Luis's son will receive.
Related Book For
Contemporary Financial Management
ISBN: 9780324289114
10th Edition
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
Posted Date: