Help with superannuation (1 Viewer)

[shinji]

hey .. i don't really get this question and we basically just touched on this topic on the last week of school,

Here's the question:
Bernice contributes to a superannuation fund. She contributes $250 at the start of every quarter. The investment pays 8% p.a interest, compounding quarterly. She continues making contributions for 30years.
i) How much does she contribute altogether;
i got this as 30 x (250x4) = $30,000

ii) What is the value of her initial investment at the end of the 30 years.

iii) Find the total of her superannuation.

iv) How much of her superannuation lump sum is interest?

yeah .. i appreciate any help. i suck at consumer arithmetic <_<

 

[shinji]

probably after .. thts how they presented it in the question

 

[shinji]

ii) = 250 * 1.02¹¹⁹ whatever that equals

hmm .. well i was thinking more of the lines of 1.08¹¹⁹

 

[shinji]

oh yeah. that's right . .overlooked that. lol;

thanks very mcuH!