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On your 30th birthday your employer SWFC Corporation, has invited you to join their pension scheme. You are paid $60,000 per year, and at the
On your 30th birthday your employer SWFC Corporation, has invited you to join their pension scheme. You are paid $60,000 per year, and at the end of each year the company contributes an additional 10% of your salary to the scheme. Required:
(i) How much money will be in your fund at age 60 (your projected retirement age), if the fund expects to earn an average rate of 11% p.a.?
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