You want to have the biggest sum possible at retirement. You are anticipating retiring in 40 years. Which of the following savings plans would generate the most at retirement, assuming you will earn 8% interest compounded annually? (2)

a. One deposit today of R90 000. b. R8 000 at the end of each year for all 40 years. c. R15 000 at the end of each year for 10 years, with no additional deposits for the

remaining 30 years.

d. No deposits for the first 10 years, then R15 000 at the end of each year for the next

thirty years.

e. none of the above