Registered education savings plan

Assignment Help Business Economics
Reference no: EM133066540

Mr. and Mrs. Friedrich have just opened a Registered Education Savings Plan (RESP) for their daughter. They want the plan to pay $3000 at the beginning of each half year for four years, starting nine years from now when their daughter will enter college or university. What semiannual contributions, including one today, must they make for the next nine years if the RESP earns 8.25% compounded semiannually?

Reference no: EM133066540

Questions Cloud

What is the interest : On a $1,000,000 principal, 91-day investment, what is the interest payable if we use an Actual/365 basis? What is the interest if the basis is Actual/360
Why these specific certifications may be best for you : Discuss with the group why these specific certifications may be best for you as you pursue your career future.
Calculate the ?nal payment : A debt of $13 an is to be repaid in annual installments of $3000 with the first installment due at the end of the second year and a ?nal installment at less tha
What is the value of the stock in the asset section : The stock is worth $1,200,000 at end of ALL CAPS U fiscal year (9/30/2021). What is the value of the stock in the asset section of ALL CAPS U as of 9/30/2021
Registered education savings plan : Mr. and Mrs. Friedrich have just opened a Registered Education Savings Plan (RESP) for their daughter. They want the plan to pay $3000 at the beginning of each
Learned about the global supply chain living : What Have We Learned About the Global Supply Chain Living through the Pandemic? As of today is it getting worse? why or why not?
Determine the weighted average cost of capital for CGI : The Clarendon based company, We Know Capital Limited (WKC), Determine the weighted average cost of capital for CGI
How is it applied to investment selection : In a practical money management context, what is a gambler's fallacy? How is it applied to investment selection?
What is the cause of that unusual shape : What is the peculiar shape of a natural monopolist's average total cost (ATC) curve, and what is the cause of that unusual shape?

Reviews

Write a Review

Business Economics Questions & Answers

  Annual interest rate of compounded continuously

How much will you have in the account after 25 years, rounded to the nearest whole dollar?

  Derive the consumers demand function for computers

Let a consumer's utility function be U = min (Computer, Operating System). That is, the consumer needs one operating system per computer to be able to use them. Derive the consumer's demand function for computers as a function of prices and income.

  Q two companies a as well as b are duopolists that produce

q. two companies a as well as b are duopolists that produce identical products. demand as well as for the products is

  Higher interest rates-more capital invested

Using the four scenarios referred to in this chapter, choose periods when each scenario has occured in the U.S. or other countries: higher interest rates, more capital invested, lower interest rates, more capital invested.

  What is the youngest age at which don can retire

He will make no provision for a retirement income after age 76. What is the youngest age at which Don can retire?

  Tomato peeling machines being

The following costs are associated with three tomato peeling machines being considered for use in a canning plant. If the canning company uses an interest rate

  Use of the gradient conversion factors

As an example of the straightforward use of the gradient conversion factors, suppose that certain EOY cash flows are expected to be $1,000 for the second year, $2,000 for the third year, and $3,000 for the fourth year and that, if interest is 15% per..

  Discuss if you think policy makers truly represent

Discuss if you think policy makers truly represent the citizenry or are they pressured by third party special interest groups that support their campaigns. Shou

  Distributed-cloud computing-virtualization

Briefly answer the following questions on virtualization levels. Highlight the key points and identify the distinctions in different approaches

  Contacting all of the company members

How might acme Ltd be able to prevent Alex from contacting all of the company's members

  Relationship between savings-capital formation-consumption

The GI Bill provided educational opportunities to many young men returning from military   service. Using a production possibilities curve, demonstrate how the GI Bill affected economic growth and explain your answer. Why is China still poor in per c..

  Find total cost-average cost and marginal cost equations

Nokia sells a new budget cell phone. Based on information provided by the accounting department, the average variable cost is: AVC = $30 + Q The average fixed cost is: AFC = $9,000,000/Q where Q is the number of phones. The phone sells for $50. Show ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd