Challenge You’re a derivatives trader, and your college frie…

Challenge You’re a derivatives trader, and your college friend Taylor tells you about a hedge fund they’re starting. Taylor promises a “ percent per year return.” The fund has a -year “lock-up,” meaning you must invest immediately and will receive your return in one lump sum at the end of years. You invest $, but then begin second-guessing yourself. As a derivatives trader, you assumed your friend meant continuous compounding, but they may have meant annual discrete compounding instead. How much less will you receive at the end of the lock-up if Taylor’s promised return was actually discrete rather than continuous? (Hint: your answer should be a positive number.) Enter your answer as a number of dollars, rounded to the nearest whole dollar. For $12,345.67, enter 12346.