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You Deposit $10 000 Today in a Fund That Earns

Question 111

Multiple Choice

You deposit $10 000 today in a fund that earns interest at j1 = 4.5%.However,at the end of every year,an expense charge of 0.50% of the accumulated amount of the fund is withdrawn.How much do you have at the end of 3-years?


A) $11,241.34
B) $11,248.64
C) $11,354.60
D) $11,411.66

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