Edward Johnson Decided to Open Up a Superannuation Account

question 92

Multiple Choice

Edward Johnson decided to open up a Superannuation account.He will invest $1,800 per year for the next 35 years.Deposits to the Superannuation account will be made via a $150 payroll deduction at the end of each month.Assume that Edward will earn 8.75% annual interest compounded monthly over the life of his Super contribution.How much will he have at the end of 35 years?

• A)$125,250
• B)$250,321
• C)$363,000
• D)$414,405

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Definitions:

Semantic Memory

A part of long-term memory involved in the storage of general knowledge about the world, concepts, and language.

Procedural Memory

A type of long-term memory that involves the unconscious recall of how to perform tasks or skills, such as riding a bike or typing.

Perspective Taking

The ability to understand and consider someone else's point of view or mental state.

Selman's Stages

A framework proposed by Robert Selman outlining the stages of social perspective-taking development in children, reflecting how they understand others' thoughts and feelings.