Superannuation (1 Viewer)

[Getteral09]

Hey can anyone help me with this question on superannuation?

Dash and Rachel want to save up $30 000 for a deposit on a house in 6 years time. They aim to pay for half the desposit each. Dash invests an inheritance of $9000 in a bank account where it earns 8% p.a. Rachel invests $2000 at the end of each year where it earns interest of 10% p.a.

a) What is the future value of Dash's investment after 6 years?


Thanks

 

[ssglain]

Dash invests an inheritance of $9000 in a bank account where it earns 8% p.a.

That is the only significant sentence in the whole question. Don't let the rest confuse you. Now you should be able to do this by yourself.

 

[-pari-]

hint: continuation from above - you dont actually use the superannuation method for this one.