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Please help Q2 and Q3. Question 2 Sylvia is planning an investment....
Please help Q2 and Q3
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Question 2 Sylvia is planning an investment. Her annual combined Federal and provincial marginal
tax rate is 32%. If she invests $1,000 every year for 3 years starting today, how much
after-tax income will she earn on her investment if interest is paid at a rate of 2.4%,
compounded semi-annually? Her investment generates interest, which is fully taxable in the year it is earned. a) $48.96
b) $49.43
c) $99.40
d) $110.10 Question 3 Your daughter is 5 years old and will need $30,000 at the beginning of each year for 4
years starting on her 19th 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? a) $476.89
b) $478.08
c) $549.64
d) $551.01
Answer & Explanation
Solved by verified expertAnswered by MateArtStork9 on coursehero.com
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