Who Will Have a Greater Accumulated Sum from Their Superannuation

question 106

Essay

Who will have a greater accumulated sum from their superannuation at retirement?
(a)Jane, who contributes $450 per month for 40 years and earns (after fees)an average of 7.5% pa (compounding monthly)in her industry fund; or
(b)John, who contributes $550 per month for 40 years and earns (after fees)an average of 6.5% pa (compounding monthly)in his retail fund.

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Definitions:

Express Terms

Specific provisions and clauses explicitly stated in a contractual agreement or legal document.

Past Course

In contract law, this term refers to previous dealings and conduct between parties that establish a pattern of behavior relevant to understanding their current transaction.

Conflict

A serious disagreement, argument, or prolonged struggle between people, groups, or ideas.

Place of Delivery

The specified location where goods are to be delivered under the terms of a contract or agreement.