Ralph Wants to Know What He Should Be Able to Save

question 5

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 made at the end of the year) .

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

---

Definitions:

Right-to-Sue Letter

A Right-to-Sue Letter is a document from the Equal Employment Opportunity Commission (EEOC) granting a complainant the right to initiate a lawsuit in federal court against their employer for alleged violations.

EEOC

The Equal Employment Opportunity Commission, a federal agency that enforces laws against workplace discrimination.

Protected Category

Refers to groups of individuals who are legally protected from discrimination under various laws. These categories often include race, gender, age, disability, and religion.

Title VII

Part of the Civil Rights Act of 1964, prohibiting employment discrimination based on race, color, religion, sex, or national origin.