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You invest $50,000 with a wealth manager on December 31, 2015. Over the next five years, the wealth manager has returns of 27%, 12%, (-17%), (-4%) and 31%. Assuming there are no fees (BIG ASSUMPTION), how much will your initial investment be worth at the end of the fifth year?
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Rework the problem under the conditions given in part (a), except change the required rate of return to (1) 13 percent, (2) 15 percent, and (3) 20 percent to determine the e
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