Superannuation (1 Viewer)

[darlking]

An amount of $3000 is invested in a superfund at the start of each year for 18 years. The interest rate is 9$ p.a. and is paid every half year.

How much is the investment worth after 18 years.

It would be absolutely helpful if someone could explain the steps, especially regarding the half year!!

 

[darlking]

Another question!

A man invest $1200 each year into a superfund for the first 30 years of his working life. For the next fifteen years (until retirement), he decides to increase this and invest a total of $5000 each year.

If the investment rate is 8% p.a. paid yearly over the whole year period, how much will his investment be worth upon retiring?

Also, please guide me through simple steps