(a) You have just turned 25 years old and plan to retire at 65. Your annual salary is $100,000 and will remain the same until retirement. Your employer contributes 10% of your annual salary to your superannuation at the end of each year. If you invest into a balanced fund and earn 8% p.a., how much money will be saved up at retirement? (4 marks) (b) You find an insurance policy where you can pay $200 at the beginning of every month for 12 months or $2360 upfront. If you can borrow at a rate of 5% per annum compounded monthly, is it cheaper for you to pay upfront or by the month? (4 marks)