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A retirement investоr plаces $1 in а lоw-cоst index fund for 40 yeаrs. The fund earns a gross annual return of 8%,but annual expenses reduce the investor’s net return to 6.25%.a) What is the future value of $1 after 40 years at the gross return of 8%?b) What is the future value of $1 after 40 years at the net return of 6.25%?c) What percentage of the no-fee future value is lost because of fees?