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If you invested $10,000 in a closed-end fund that invested in stocks that matched the market return of 10 percent per year for 10 years,
If you invested $10,000 in a closed-end fund that invested in stocks that matched the market return of 10 percent per year for 10 years, levied a management fee of 2 percent of net assets per year, and sold at a 15 percent discount to its NAV both when you bought it and when you sold it 10 years later, how much would you have at the end of that time (assuming no taxes, all income was reinvested, and all fund charges were levied at the end of each year)?
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