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If you invest $1,000 today in an investment fund that promises to pay you 5% per year and that charges annual asset management fee of
If you invest $1,000 today in an investment fund that promises to pay you 5% per year and that charges annual asset management fee of 0.4% of your account value at the end of each year, how much money will you have in 20 years?
The correct answer is $2,448.91. Can you please show me using a financial calculator on how to arrive at that answer? Thank you :)
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