Mr. and Mrs. Krenz are contributing to a Registered Education Savings Plan
(RESP) they have set up for their children. What amount will they have in the RESP after eight years of contributing $500 at the end of every calendar quarter if the plan earns 6% compounded monthly? How much of the total amount is interest?

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The Answer of Mr. and Mrs. Krenz are contributing to a Registered Education Savings Plan
(RESP) they have set up for their children. What amount will they have in the RESP after eight years of contributing $500 at the end of every calendar quarter if the plan earns 6% compounded monthly? How much of the total amount is interest?

Mr and Mrs