At the End of This Month,Les Will Start Saving $150

question 43

Multiple Choice

At the end of this month,Les will start saving $150 a month for retirement through his company's superannuation plan.His employer will contribute an additional $0.50 for every $1.00 that he saves.If he is employed by this firm for 30 more years and earns an average of 10.5 per cent on his retirement savings,how much will Les have in his superannuation account 30 years from now?

• A)$389 406.19
• B)$401 005.25
• C)$540 311.67
• D)$566 190.22
• E)$603 289.01

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Definitions:

IPO

Initial Public Offering; the process through which a private company becomes publicly traded by offering its shares for sale to the general public for the first time.

Standby Underwriter

A financial entity that agrees to purchase any unsold shares after a public offering to ensure the issuing company raises the capital needed.

Underpriced IPOs

Initial Public Offerings priced below their market value, often leading to significant investor interest and potential profit.