Question 2
You have $2,500 in an RESP. The CESG of 20% is paid immediately on all contributions. If you
wish to have $10,000 in 5 years’ time, how much must you contribute at the end of every year at a
rate of 5% per annum?
a) $1,478
b) $1,232
c) $1,027
d) $946
the answer is C
reasoning...