1.5. Let's see how fee can hurt your investment strategy. Let's assume that your mutual fund grows at an average rate of 7% per year-before subtracting off the fees. Using the rule of70:

a. How many years will it take for your money to double if fee are 0.5% per year?

b. How many years will it take for your money to double if fees are 1.5% per year (not uncommon in the mutual fund indu try)?

c. How many years to double if fees are 2.5% per year?