Your daughter is 5 years old and will need $30,000 at the beginning of each year for

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Your daughter is 5 years old and will need $30,000 at the beginning of each year for 4 years starting on her 19^th birthday to attend university. You have saved $10,000 in her RESP to date.

How much must you put aside every month, at the end of the month, to fund her education, if you foresee earning a return of 3%, compounded quarterly?

Related Book For answer-question

Financial Analysis with Microsoft Excel

ISBN: 978-1285432274

7th edition

Authors: Timothy R. Mayes, Todd M. Shank

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Posted Date: May 03, 2023 11:43 PM

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Your daughter is 5 years old and will need $30,000 at the beginning of each year for

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ANSWER To calculate the monthly savings required to fund your daughters education we need to determi... View the full answer

Financial Analysis with Microsoft Excel

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