Gemma and Simu both turn 35 years old today on 1 January. Gemma plans to invest $1,150 each month into her superannuation fund, starting at the end of this month until her retirement. Simu intends to invest $2500 at the end of each month in his superannuation fund, but he does not plan to begin investing until 10 years after Gemma begins investing. Both Gemma and Simu will retire at the age of 75 and their superannuation funds average 10% annual return. Who will have more superannuation funds available at retirement? Show workings.

Answer rating: 100% (QA)

To determine who will have more superannuation funds available at retirement we need to calculate th... View the full answer