Question: When Shayla turned five years old, her mother opened up a Registered Education Savings Plan (RESP) and started making $600 end-of-quarter contributions. The RESP earned

When Shayla turned five years old, her mother opened up a Registered Education Savings Plan (RESP) and started making $600 end-of-quarter contributions. The RESP earned 7.46% semi-annually. At the end of each year, Human Resources and Skills Development Canada (HRSDC) made an additional deposit under the Canada Education Savings Grant (CESG) of 20% of her annual contributions into her RESP. Calculate the total maturity value available for Shayla's education when she turns 18.

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