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A person invests $800 at the beginning of each year in a superannuation fund. Compound interest is paid at 10% per annum on the investment.
A person invests $800 at the beginning of each year in a superannuation fund. Compound interest is paid at 10% per annum on the investment. The first $800 is to be invested at the beginning of 1988 and the last is to be invested at the beginning of 2017. Calculate to the nearest dollar: a. the amount to which the 1988 investment will have grown by the beginning of 2018; b. the amount to which the total investment will have grown by the beginning of 2018
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