PLS HELP ASAP ON BOTH Justin and Yvonne both open a Registered Education Savings Plan (RESP) for their daughter Grace. They plan to regularly contribute$1,000 per year until Grace reaches the age of 17.Which of the following statements relating to RESP is CORRECT?O Justin and Yvonne may contribute a combined lifetime maximum of $50,000 for Grace.O RESPs are attractive to Justin and Yvonne because they are tax-free investment plans.O There is an annual contribution limit of $2,500 that Justin and Yvonne can contribute to an RESPContributions made by Justin and Yvonne are eligible for a tax deduction in the year they are contributed. cordingWhiteboardFlag for IYou are meeting a new client, Steven, and you are trying to determine his level of understanding of different investments. Whichquestion would give you the most information regarding your client's familiarity with investing?O Do you want to minimize taxes from your investments?O What rate of return do you expect from investing?Do you understand the relationship between risk and return?○ Do you have the resources to invest for the long-term?

Qustion 2:The best question to determine Steven's level of understanding of different investments…

Answered: Justin and Yvonne both open a…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 12P

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Define the term Net-Present-Worth Criterion?
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