1. a. You invest $1 today in the stock market. The return or percentage growth of the stock market is 7% per year. After 20 years, how much money will you have? by a Wall Street firm charges you fees each year of 2% of John Bogle: "A 401(k) account run your assets at the beginning of the year, but fees are assessed at the end of the year. If you invest one dollar today in the 401(k), then after 50 years Wall Street takes almost two-thirds of your money." Imagine that long term investors earn 7 % per year by investing in the stock market. b. Suppose that you invest $1 today in your 401(k) and that your 401 (k) is managed by a Wall Street firm that invests your money in the stock market and charges youa fee of 2 % of assets invested per year. i) At what interest rate will your money grow after fees are deducted? ii) How much money will you have in 50 years? no fees on this account. How c. Suppose you invest $1 today in your 401(k) but you are much money will you have in 50 years? charged d. Evaluate Bogle's statement. e. If the stock market yields only 6%, what fraction of your money does Wall Street take