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How much extra can she withdraw when she retires

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Reference no: EM133013007

Question - Your friend recently finished her degree in Biology, and has just started her first full time job. She receives a contribution of her employer of 17% of her salary, every fortnight. She asks you for advice on whether she should make additional contributions to her superannuation account every fortnight. She hopes this will lead to her retiring a little bit early, in exactly 35 years. If she deposits an extra $280/fortnight, and her superannuation account is expected to earn a 6.5% return compounded fortnightly, how much extra can she withdraw when she retires as a result of her additional contributions? Enter you answer to the nearest cent (two decimal places).

Reference no: EM133013007

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