Question

An amount of $2800 is invested in a superannuation fund at the start of each year for 35 years .The fund is 9% p.a. compounded annually. How much is the investment worth at the end of that time?

(nothing lower then 138k nothing higher then 658k)

Answer 1

It would be: = P * R * T / 100
Interest = 2800 * 35 * 9 / 100
I = 882000 / 100
I = $8820

So, your final answer is $8820

Hope this helps!