Superannuation accounts at retirement

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Reference no: EM131975899

Both John and Mary are aged 20 now. John plans to contribute $168 per month in advance into his superannuation fund for 20 years and stop contributing thereafter. Mary plans to start contributing $336 per month in advance into her superannuation fund at her 40th birthday until she retires. They both plan to retire at age 60. If the annual rate of return is 12.80%, what are the accumulated values of their superannuation accounts at retirement? Assume: NO fees, NO tax.

Reference no: EM131975899

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