8-24. Doris plans to save $5,000 per year for the next 35 years. Her money will be...
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8-24. Doris plans to save $5,000 per year for the next 35 years. Her money will be deposited in a stock market index fund that has a 0.5% annual management fee. If this fund earns 6% per year, how much will Doris save by investing in this fund instead of an actively managed mutual fund that has a 1% annual fee? Compute your answer as a future amount at the end of year 35. (4.12, 8.3)
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Related Book For
Engineering Economy
ISBN: 9781292265001
17th Global Edition
Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling
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