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How much will joanna have in her superannuation scheme

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Question - At age 25 Joanna begins work at a salary of $80,000 p.a. Her employer contributes an amount equal to 12.5% of her salary to a superannuation scheme. How much will Joanna have in her superannuation scheme at age 65 (to the nearest dollar) if her salary grows at 4.3% p.a. and the scheme earns a return of 7.1% p.a. on contributions? Assume contributions are made at the end of each year.

Reference no: EM133170419

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