robin invests $50 on the first of every month into a superannuation account.
His employer, Batman, pays 9% of Robin's monthly income of $2500 at the
end of the month into the same account. Interest is paid at the rate of 6% p.a.
compounded monthly.
(a) Calculate the total amount in the account after 45 years.
(b) How much more should Robin invest each month if he wishes to have a
superannuation fund value of $1 000 000 after 45 years?
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Your School Subject is Math, not gscc, whatever that is.
1 answer