How much in fees will rosemarie pay over the two years, Finance Basics

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How much in fees will rosemarie pay over the two years

Problem

RoseMarie hires a fee-only financial advisor to manage her portfolio, which is currently worth $10,000. The advisor charges an annual fee of 2%. If the portfolio loses 10% in 1 year and loses 15% the following year, how much in fees will RoseMarie pay over the 2 years? Assume the fee is paid on the portfolio value at the end of the year and is deducted from the account at that time.

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