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You are now 33 years old and planning to retire at age 66. You currently have: $239,000 in a share portfolio; $325,000 in a superannuation
You are now 33 years old and planning to retire at age 66. You currently
have: $239,000 in a share portfolio; $325,000 in a superannuation plan;
$74,000 in a money market account.
The share portfolio is expected to generate a rate of return of 12% per
annum. The superannuation plan is expected to generate a rate of return of
7% per annum. The money market account is expected to generate a rate of
return of 3% per annum, compounded monthly.
You also contribute $2,000 into your superannuation plan every year
(starting one year from now).
How much will your investments be worth when you retire ?
Round your answer to 2 decimal places. E.g. if the final value is $12345.8342,
please type 12345.83 in the answer box (do not type the dollar sign).
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