Ralph Wants to Know What He Should Be Able to Save

question 31

Multiple Choice

Ralph wants to know what he should be able to save in his child's RESP account if he contributes $2,500 per year and also gets the CES grant of $500 each year.He wants to assume a conservative investment return of four percent annual return and that he will only contribute until the child is 15 (assume 15 years of $3000 deposits) .

• A)$46 500
• B)$52 200
• C)$65 500
• D)$60 700

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Definitions:

Ajzen And Fishbein

Refers to the theorists who developed the Theory of Reasoned Action and the Theory of Planned Behavior, which are models used to predict how individuals' attitudes influence their behaviors.

Attitude Measure

Tools or methods used to assess individuals' attitudes or feelings towards a particular object, concept, or person.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or values) simultaneously.

Mechanical Problems

Issues or malfunctions related to the physical or functional aspects of machinery or equipment.