A venture capital company charges a management fee of 2% of committed capital

per year plus 20% of carried interest.

The venture capital company raises 100,000,000. It will manage the money for 7 years.

It invests 86,000,000, holding the remaining 14,000,000 to pay its management fee. Over

the 7 year period, the compound annual return is 15

Calculate the total amount paid to the limited partners.