Question: Mr. and Mrs smith plan to open an RESP sinking fund for their child. They figure they need to have $121,000 till their son is

Mr. and Mrs smith plan to open an RESP sinking fund for their child. They figure they need to have $121,000 till their son is 18 years old. if their sinking fund has a semiannual interest rate of 5.5%, how much do they have to contribute to the fund at the beginning of every quarter?




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