Who will have a greater accumulated sum from their superannuation at retirement?
(a)Jane, who contributes $450 per month for 40 years and earns (after fees)an average of 7.5% pa (compounding monthly)in her industry fund; or
(b)John, who contributes $550 per month for 40 years and earns (after fees)an average of 6.5% pa (compounding monthly)in his retail fund.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q94: What is the main advantage and disadvantage
Q95: Define reinsurance.
Q96: Why are insurance companies classified as fund
Q97: Identify and briefly describe the main groups
Q98: Drawing upon the lessons learned from the
Q100: Say an individual contributes $1000 per month
Q101: Discuss the benefits of funds management for
Q102: How is the performance of investment managers
Q103: Provide an overview of the main schemes
Q104: Discuss the emergence of hedge funds and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents