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With an annual gross income of AUD100,000, Oscar intends to make a 12% contribution towards an accumulation superannuation plan (including both employer compulsory rate and

With an annual gross income of AUD100,000, Oscar intends to make a 12% contribution towards an accumulation superannuation plan (including both employer compulsory rate and employee voluntary rate). If the investment return is 4% per annum and assuming contributions are made annually, what is the projected balance (approximately) of Oscars superannuation account in 25 years if the starting balance is zero today (ignore taxes and fees)?

Select one:

A. 400,000

B. 300,000

C. 200,000

D. 500,000

E. 100,000

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